Washington, D.C. – PJM, the nation’s largest electricity grid operator, held its most recent capacity auction to ensure there are enough power plants and other resources available to satisfy the region’s electricity demand during mid-2027 through mid-2028. In response, America’s Power President & CEO Michelle Bloodworth released the following statement:
“This is the third year in a row that PJM’s capacity prices have set a record high. These high capacity prices make it even more difficult to provide affordable electricity for consumers. Already, almost half the PJM states are expected to see electricity price increases of more than 10% this year. These record-setting capacity prices are certain to increase electricity prices, but the increase will vary from state to state,” said Bloodworth. “The most obvious takeaway from the auction is that PJM needs to immediately stop retiring its coal power plants, as well as adding new sources of dependable electricity. Currently, utilities have announced plans to retire almost 40% of PJM’s coal fleet before 2030. If these retirements continue, PJM could set another unenviable record for sky-high capacity prices again next year and consumers will continue to suffer.”