PA Environment Digest Blog: Gov. Shapiro Secures 2 Year Extension Of PJM Price Cap, Collar On Electricity Capacity Auctions

On February 12, Gov. Josh Shapiro announced the PJM Interconnection will extend its existing price cap for another two years — until 2030 — a major win for consumers following the Governor’s legal action and efforts to stop billions in unnecessary electricity rate hikes.

The extension of the price cap — a $325/MW-day circuit breaker on PJM’s market — will save 67 million Americans across the PJM region an additional $27 billion on their energy bills.

Combined with prior savings secured through the Governor’s lawsuit and settlement, Governor Shapiro’s actions have now saved PJM customers a total of $45 billion.

That means about $575 back in the pockets of every household in Pennsylvania over the next four years.

“After we led a lawsuit and took PJM to court last year to protect consumers, we just secured another major win — PJM announced they’re extending the success of our price cap for the next two years,” said Governor Shapiro. “This is going to save 67 million Americans $27 billion on their energy bills — bringing the total we’ve saved PJM customers up to $45 billion. Pennsylvanians can’t afford higher prices, and I will always stand up for them against companies trying to jack up their prices and screw them over.”

Governor Shapiro has made clear that protecting consumers and building new energy supply must go hand in hand.

Through his Lightning Plan and the PA Permit Fast Track Program, the Governor is cutting permitting delays, accelerating responsible energy development, and positioning Pennsylvania — the nation’s second-largest energy producer and exporter — to build more power faster while keeping costs down.

Independent analyses confirm these efforts will save consumers money, create jobs, and attract billions in new energy investment.

With the extension of the PJM price cap, Governor Shapiro continues to deliver on his commitment to stand up for Pennsylvania families and businesses — ensuring reliable, affordable energy while holding powerful interests accountable.

Click Here for the Governor's full announcement.

NewsClips:

-- Post-Gazette - Laura Legere: PJM Interconnection Agrees To Extend Price Cap That Has Tamped Down Surging Electricity Prices

-- PA Capital-Star: Grid Operator PJM Agrees To Extension Of Electricity Auction Price Cap

-- WESA - Rachel McDevitt: PJM Grid Operator Plans To Cap Electricity Auction Costs For 2 More Years

-- Reuters: PJM To Extend Electricity Capacity Auction Price Cap For 2 Years, PA Governor Says

PA Oil & Gas Industry Public Notice Dashboards:

-- PA Oil & Gas Weekly Compliance Dashboard - Feb. 7 to 20 - Conventional Well Owners Abandoning More Than 1 Well A Day; No Approval For Disposal Of Shale Drill Cuttings [PaEN]

-- PA Oil & Gas Industrial Facilities: Permit Notices, Opportunities To Comment - February 14 [PaEN]

-- DEP To Hold March 19 Meeting, April 7 Hearing On Shell Petrochemical Plant Air Quality Plan Approval For Ground Flares, Wastewater Treatment Plant, As-Built Air Pollution Equipment In Beaver County [PaEN]

-- DEP Posted 76 Pages Of Permit-Related Notices In February 14 PA Bulletin [PaEN]

-- PA Oil & Gas Industrial Facilities: Permit Notices, Opportunities To Comment - February 21 [PaEN]