""For two years, I've been sounding the alarm, explaining that without fundamental changes to PJM - Pennsylvanians were going to be paying more and more, and getting nothing in return," Pennsylvania Governor Josh Shapiro said in a press release."
""...I've been working with my fellow governors and federal energy officials to push PJM to make needed reforms, and I'm glad the White House is following Pennsylvania's lead and adopting the solutions we've been pushing for.""
""15-year revenue certainty""
The Trump administration urged PJM Interconnection to hold an emergency auction requiring major tech companies to bid on 15-year contracts for new electricity generation. The auction would raise billions to finance $15 billion in new power plants, with companies required to pay for contracted power over the 15-year term whether they use it or not. The arrangement aims to smooth electricity price spikes and provide 15-year revenue certainty for new plants. Governors of Virginia, Maryland, Ohio and Pennsylvania and federal energy and interior secretaries supported the nonbinding proposal and encouraged capping charges from existing plants to pass savings to residential users.
Read at Fast Company
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