Following Pallone’s Push FERC Extends PJM Electricity Price Cap, Sparing NJ Ratepayers Price Hike

WASHINGTON, DC - Congressman Frank Pallone, Jr. (NJ-06), Ranking Member of the House Energy and Commerce Committee, issued the following statement after the Federal Energy Regulatory Commission (FERC) approved an extension of the PJM electricity price cap:

"Today's decision by the Federal Energy Regulatory Commission to extend the PJM electricity price cap is exactly the action I called for to protect New Jersey ratepayers from another spike in their energy bills. Without this step, customers would have faced another round of sharp increases driven by supply constraints and rising demand. In March, I urged FERC to approve this exact proposal to prevent New Jersey residents from absorbing those costs.

"This order provides much needed stability for people already paying significantly higher electricity bills. It also gives regulators, states, and Congress time to pursue longer term reforms to address PJM's underlying challenges. Those challenges include delays in bringing new energy supply online and rapidly growing demand, including from data centers. This is not a permanent solution, but it is a necessary step to prevent further volatility. I will continue working to advance comprehensive reforms that ensure affordable energy for all New Jersey residents."

Read Pallone's March letter here.

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