PJM Capacity Auction Reforms
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capacity auctionBaltimore Sun
•Business
Business & Economics
Can this grid deal ease Maryland’s future rate hikes? Proponents say so.
81% Informative
PJM Interconnection agrees to lower a cap on the auction’s clearing price, and add a floor.
The cap would be reduced from $ 500 per megawatt-day to $ 325 ; the floor would rest at $ 175 .
Maryland ratepayers will see a $ 21 jump in their monthly payments this summer , or $ 250 per year.
PJM recently reached an agreement with two Anne Arundel County coal-fired power plants.
The plants had pledged to retire this year , to cheers from environmentalists.
But under the agreement, both will operate until May 31, 2029 , and receive $145 million and $35 million annually .
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