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Governor Shapiro Secures Extension of PJM Price Cap, Saving Consumers $27 Billion More — and $45 Billion in Total — on Energy Bills
In a press release Governor Josh Shapiro announced(opens in a new tab) that PJM Interconnection will extend its existing price cap for another two years — until 2030 — a major win for consumers following the Governor’s legal action and efforts(opens in a new tab) to stop billions in unnecessary electricity rate hikes.
“After we led a lawsuit and took PJM to court last year to protect consumers, we just secured another major win — PJM announced they’re extending the success of our price cap for the next two years,” said Governor Shapiro. “this is going to save 67 million Americans $27 billion on their energy bills — bringing the total we’ve saved PJM customers up to $45 billion. Pennsylvanians can’t afford higher prices, and i will always stand up for them against companies trying to jack up their prices and screw them over.”
“In December 2024, the Governor sued PJM, warning that its flawed auction design would saddle consumers with billions in unnecessary costs. That lawsuit led to a landmark settlement in January 2025 — later approved by the Federal Energy Regulatory Commission — that significantly lowered PJM’s capacity price cap.”
“After all 13 PJM governors and the federal government issued a historic Statement of Principles(opens in a new tab) in January 2026 calling for affordability, reliability, and meaningful market reform, momentum continued to build.
Today’s announcement builds on that progress and locks in additional savings until 2030.”
“Governor Shapiro spoke directly with PJM’s Chairman this week and followed up with a letter, urging the grid operator’s board to extend the existing price cap — a move supported by 95 percent of PJM survey respondents.”
“Total savings from Governor Shapiro’s actions will now reach $45 billion for 67 million Americans across the PJM region.”
