Weekly Power Markets Report: October 18-24, 2025

Across North America, system operations were seasonally calm with ample reserves and generally subdued prices, allowing markets to focus on structural changes. The week’s through‑line was market design and reliability reform: PJM approved capacity market adjustments, Texas authorities opened a civil inquiry into ERCOT, CAISO advanced a greenhouse‑gas accounting framework, SPP and its Markets+ program moved deeper into implementation, MISO addressed planning and interconnection issues, NYISO progressed winter reliability proposals, and Canadian operators (AESO, IESO) pushed forward on market redesigns and procurements.