Market status — October 23, 2026
Emergency
Elevated
Watch
Normal
PJM — Mid-October tightness has passed, but the emergency toolkit was used
- 5CP Capacity Tags: Summer peak season is over, so no 5CP hours are in play. Forecast load during the October 13-14 stress was about 112,400 to 113,300 MW, unusually high for fall (PJM Inside Lines).
- Real-Time LMP: No hub-level price data for the last 24 hours was available from approved sources. Planned and maintenance outages of roughly 61,000 MW were the main driver of the earlier tightness.
- Demand Response: PJM called Pre-Emergency Load Management on October 13 and 14 for the afternoon and evening net-load peaks. A DOE emergency order covering October 13-16 allowed backup generation at large loads, though PJM had not used it at publication (PJM Inside Lines). No new activation was found for today.
NYISO — Quiet pricing, with reserve pick-ups worth noting
- ICAP Tag Tracking: No UCAP tag changes or auction results surfaced in today’s sources.
- CBEP Program Alerts: No CBEP alerts or activations were posted.
- Day-Ahead Pricing: NYISO executed three large event reserve pick-ups on the morning of October 21, and confirmed prices for the October 22 day-ahead market as correct. No zone spread data was available (NYISO operational messages).
ERCOT — No alerts found
- 4CP Season Tracking: The 4CP window (June to September) is closed. Nothing to track until next summer.
- ORDC Pricing: No reserve shortfalls or high ORDC adder events were reported.
- Grid Condition Alerts: No Weather Watch, Conservation Appeal or EEA notices were visible on the TXANS page.
ISO-NE — Comfortable surplus
- Load Forecasting: The October 22 report forecast a 14,000 MW evening peak, after 14,311 MW the day before. Available capacity of 18,582 MW left a 2,604 MW surplus (ISO-NE Morning Report).
- FCM Tag Events: No de-list bids or show-cause notices were found.
- Capacity Market Integration: No new FCA results or zone changes. No Operating Procedure 4 actions were expected.
MISO — No new signals
- Zonal Pricing: No notable zone spreads or constraint news from approved sources.
- Planning Resource Auction: The 2026 auction was described by MISO as showing sufficient capacity for the coming year, with no Zone 4 shortfall flagged in what we could retrieve (MISO release).
- Real-Time Settlements: Nothing unusual reported.
CAISO — Quiet shoulder season
- Flex Alerts: No Flex Alerts issued or expected.
- Renewable Curtailment: No curtailment data for today was available. Spring and fall solar curtailment is structural.
- NQC Integration: No new NQC or RA deficiency notices. The 2026 RA compliance review is the latest on file.
Cross-Market Watch
- Regulatory: FERC’s July order requires NERC to file reliability standards for data center and other computational loads by December 31, 2026 (POWER).
- This week: FERC and NRC held a joint meeting on grid reliability on October 22, and FERC’s annual reliability technical conference notice is out (FERC).
HOW INTELLASTAR ENERGY ANALYST CAN HELP
Today’s conditions create specific opportunities — and risks — for your organization.
Off-season demand response calls show load management can happen outside summer.
Intellastar Energy Analyst tracks PJM alerts and load management events so you know when your sites may be called. It also helps you review how your demand response enrollment performed during recent events.
Reserve pick-ups in New York are a reminder to check your ICAP position before the next tag period.
Intellastar Energy Analyst follows NYISO operating messages and ICAP activity in one place. It helps you spot early signs of tighter conditions and plan around them.
Calm capacity conditions in MISO are a good time to audit your planning-year exposure.
Intellastar Energy Analyst helps you compare your zone’s capacity results against your own load and contracts. Use quiet weeks to find savings before the next auction.