EAGLEVILLE, Pa., Nov. 10, 2016 /PRNewswire/ -- PJM Interconnection's wholesale electric energy, capacity and regulation markets produced competitive results during the first nine months of 2016, according to the 2016 Quarterly State of the Market Report for PJM: January through September, released today by Monitoring Analytics, LLC, the Independent Market Monitor for PJM. The Independent Market Monitor, Joseph Bowring, announced findings of the report today. The report is the Independent Market Monitor's assessment of the competitiveness of the wholesale electricity markets managed by PJM in 13 states and the District of Columbia. The report includes analysis of market structure, participant behavior and market performance for each of the PJM markets. "Our analysis concludes that the results of the PJM Energy, Capacity and Regulation Markets in the first nine months of 2016 were competitive," Bowring said. Energy market prices decreased significantly from the first nine months of 2015 as a combined result of lower fuel prices and lower demand. The load-weighted average real-time LMP was 24.7 percent lower in the first nine months of 2016 than in the first nine months of 2015, $29.32 per MWh versus $38.94 per MWh. Energy prices in PJM in the first nine months of 2016 were set, on average, by units operating at, or close to, their short run marginal costs. This is evidence of generally competitive behavior and resulted in a competitive market outcome. Net revenue is a key measure of overall market performance as well as a measure of the incentive to invest in new and existing generation to serve PJM markets. In the first nine months of 2016 compared to the first nine months of 2015, average energy net revenues decreased by 23 percent for a new combustion turbine, 22 percent for a new combined cycle, 60 percent for a new coal plant, 71 percent for a new diesel unit, 34 percent for a new nuclear plant, 25 percent for a new wind installation, and 33 percent for a new solar installation.