TRENTON, NJ – The New Jersey League of Conservation Voters (LCV) is calling for stronger state intervention following the release of PJM Interconnection’s latest energy capacity auction results, which are expected to raise electricity rates for consumers across the state.
In a statement Wednesday, New Jersey LCV Executive Director Ed Potosnak said the new rate increases will place additional strain on working families and accused PJM, the regional grid operator, of prioritizing corporate profits over affordable energy.
“At a time of growing economic stress, every dollar increase in utility bill rates is unacceptable,” Potosnak said. “It seems PJM is more interested in protecting the profits of billionaire CEOs than in keeping energy affordable for working families.”
Potosnak urged the New Jersey Legislature to pass the Energy Leadership Act, legislation aimed at transitioning the state to 100 percent clean energy, and called on Governor Phil Murphy and the Board of Public Utilities to expand oversight of PJM’s operations. He said a growing backlog of clean energy projects awaiting interconnection approvals is delaying progress toward cheaper renewable power.
The recent PJM auction marked the final year under a negotiated price cap designed to limit energy cost spikes. Without it, consumer advocates warn next year’s rates could climb even higher.