PJM aims to fast-track grid capacity boosts and set a strict price cap to protect consumers from rising costs. (Utility Dive)
PJM is seeking FERC approval to expedite up to 10 interconnection requests annually for new or uprated generation projects of at least 250 MW. With state backing, these high-impact projects could secure an interconnection agreement in just 10 months and come online within three years.
To prevent extreme rate spikes in upcoming auctions, PJM proposed extending its price collar to about $325/MW-day (which could reach$550/MW-day at the next base residual auction). Previous caps saved ratepayers $13B.
These temporary measures aim to bridge the gap while PJM develops a permanent "reliability backstop" auction by late 2026.