I think you have a misunderstanding about what PJM really is and how it operates. It's not an organization that is controlled by generation owners who control the electricity market to maximize their own profit. PJM is a Regional Transmission Organization that is regulated by the FERC. It is managed by a Board of Governors that is elected by the stakeholders which include power generators, transmission owners, electricity distributors, power marketers and large consumers. All of those stakeholders have different priorities and there can be different priorities even within one group of stakeholders. No one group controls PJM and it is managed to insure neutrality. There is an independent market monitor that reports directly to FERC to insure PJM's markets are fair and competitive. Here is a link to get you started:
http://www.pjm.com/about-pjm/who-we-are/company-overview.aspxAs far as MAPP goes, not all generators benefited from postponing it a year. In the most recent RPM auction, capacity prices for the 2012/2013 Delivery Year cleared at prices from $139 to $222 per MW-day in eastern PJM, but only $16 per MW-day in western PJM. The reason for the disparity is transmission constraints; (The decision to postpone MAPP was made before the auction started). Don't you think generators in western PJM would like to be able to move their power east? Postponing MAPP sure didn't maximize their profit. Another consideration is the cost of the line. It's a backbone line, so the cost gets spread across the entire PJM system and ultimately rate payers in all of PJM will pay for it. Building it too early exposes ratepayers to higher costs before they are really justified.
As for unbundling, it was only an illustration of how much change has already taken place and BTW, it was very good to me - it made my career possible. I expect change will continue and yes, corporations will certainly act in their own interest. They are supposed to do that - they have shareholders who expect to make money. I don't expect anyone will be dragged kicking and screaming because the change will occur over decades and adaptation will insure survival.
Blue Water is interesting, but it is neither unusual or new in how the process worked. Public Service Commissions have been directing electric utilities to formulate Integrated Resource Plans for at least 20 years and those plans have required the utility to identify a least cost option through an RFP. The process frequently included a self-build option and the utility had to justify its decision to the PSC. In this case, the PSC told DPL it wanted the wind project, but Conectiv, DPL's affiliate and NRG (an independent power company) had also submitted bids and did everything they could to win the RFP. Why wouldn't they? They probably spent a million or two dollars putting their bids together. Would you go down without a fight after spending that kind of money? It wouldn't have mattered whether wind was proposed or not; RFP's like that are always hotly contested - it's the way this business operates.
BTW, Blue Water seems to be in trouble, Babcock & Brown, it's sponsor is close to bankruptcy and they have a lot of permitting work (costs $) to do. Do you know if they've ordered turbines? Last time I checked, production was sold out for the next few years, but that was probably a year ago.
You seem to have pretty strong opinions about the business. I'd be interested to know a little about your background.