For PJM, we conducted all four official reviews of its Reliability Pricing Model (2008, 2011, 2014, and 2018). We evaluated the demand curve shape, the CONE parameter, and the methodology for estimating net energy and ancillary services revenues. We recommended improvements to support participation and competition, avoid excessive price volatility, and safeguard future reliability performance. We submitted testimony before the FERC and participated in settlement discussions.