Market Efficiency PJM’s Regional Transmission Expansion Planning (RTEP) process includes the analysis of the economic efficiency of PJM’s energy and capacity markets associated with determining RTEP market efficiency upgrades. Manual 14B WEB | PDF addresses this in detail. Transmission plans that result from PJM’s reliability analysis may also benefit market efficiency. Reliability-based RTEP projects are evaluated to determine if they can be advanced based on market efficiency benefits. Also, the review of historical and projected congestion metrics and other RTEP drivers may suggest new projects or based on market efficiency as the primary driver from combinations of the two. Proposals for market efficiency projects may be proposed through the Competitive Planning Process. Reference Files Date 2024-25 PJM Market Efficiency Base Case - Input Assumption Details (updated April 2025) XLS 4.1.2025 Informational - Market Efficiency Analysis Assumptions - June 2024 PDF 9.12.2024 Market Efficiency Process (2024/25 RTEP Window Training) PDF 10.24.2024 Manual 14B WEB | PDF Manual 14F WEB | PDF Operating Agreement WEB | PDF - Section 1.5.7 Economic Models Market Efficiency Economic Models - requires additional access and active license with Ventyx for PROMOD and nodal simulation data