Reuters reports that energy costs are going up for 20% of Americans.
- PJM is the largest regional transmission organization and delivers power to over 65 million Americans in the midwest and mid-Atlantic regions.
- After witnessing a record-low cost of $28.92 per megawatt-day in 2023, prices for power plants will now jump to $269.92 per megawatt-day (a 200% increase) after PJM’s recent power auction.
- The price jump is indicative of the need to modernize permitting to build more transmission capacity and increase energy generation.
“The auction secured 135,684 megawatts for the period from June 1, 2025, through May 31, 2026. The power mix from generators included 48% gas, 21% nuclear, 18% of coal, 1% of solar, 1% of wind, 4% of hydro, 5% of demand response and 2% from other resources, PJM said.”
Read the full article here.
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