For Immediate Release
June 22, 2022
Contact: Michelle Bloodworth
America’s Power Statement on PJM Interconnection Capacity Auction Results
Washington, D.C. – America’s Power president and CEO Michelle Bloodworth issued the following statement in response to PJM Interconnection’s Annual Capacity Auction results for the 2023/2024 delivery year:
“Unfortunately, yesterday’s PJM capacity auction is likely to result in more coal retirements. PJM’s coal fleet was already expected to decline by half (more than 24,000 MW of announced coal retirements by 2030) even before the auction. In addition, EPA regulations are expected to cause even more coal retirements, especially during the 2026-2028 timeframe. We have urged PJM to evaluate the reliability impacts if half or more of its coal fleet retires by 2030.
Besides the potential risks to grid reliability, more coal retirements will expose ratepayers to higher electricity prices when gas prices spike and generators cannot shift from gas to coal. We continue to urge PJM and other grid operators to value the reliability, resilience and affordability attributes of coal. Doing so would help put coal on a more level playing field with other resources that are receiving federal and state subsidies.”
America’s Power is a partnership of industries involved in producing electricity from coal.