NRG · 10-Q · 2026Q2 · Full report

PJM LDA Reliability Litigation

NRG ENERGY, INC. · 2026-08-04 · Importance 44 · Surprise 60

NRG and other parties challenged FERC’s revised definition of PJM’s Locational Deliverability Area Reliability Requirement for the 2024/2025 auction. The Third Circuit vacated application of the revised requirement, leading FERC to require PJM to recalculate and rerun portions of the auction. On January 13, 2026, the D.C. Circuit vacated FERC’s denial of a related complaint and remanded the matter for a substantive ruling. The remanded complaint remains pending at FERC and could affect PJM capacity-market outcomes.