A market-based system for the purchase and sale of the Reserves.
Last Updated: June 22, 2025
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The PJM Reserve Markets provide PJM participants with a market-based system for the purchase and sale of the Synchronized Reserve, Primary Reserve, and 30-minute Reserve Services (“Reserves”). The PJM Reserve Markets are conducted in both the Day-ahead Market and Real-time Market processes. In the Day-ahead Market, PJM schedules Reserves on a simultaneously, co-optimized basis with Energy for each hour of the next Operating Day.
In Real-time, PJM procures Reserves on a simultaneously, co-optimized basis with Energy for each hour and each interval. Both the Day-ahead and Real-time Reserve Markets are offer-based and procure resources to meet the required Reserve Services:
- Synchronized Reserve Service: can only be satisfied by online resources that are able to respond in ten (10) minutes or less.
- Primary Reserve Service: can be satisfied by online or offline resources that are able to respond in ten (10) minutes or less.
- 30-Minute Reserve Service: can be satisfied by online or offline resources that are able to respond in thirty (30) minutes or less.
PJM has three reserve products that can meet the required Reserve Services:
- Synchronized Reserve Product: online resources that are able to respond in ten (10) minutes or less. The Synchronized Reserve product can satisfy the Synchronized Reserve, Primary Reserve, and 30-Minute Reserve Services.
- Non-Synchronized Reserve Product: offline resources that are able to respond in ten (10) minutes or less. The Non-Synchronized Reserve product can satisfy the Primary Reserve and 30-Minute Reserve Services.
- Secondary Reserve Product: online or offline resources that are able to respond between ten (10) and thirty (30) minutes. The Secondary Reserve product can satisfy only the 30-Minute Reserve Service.