After a capacity auction earlier this week, a lawsuit by Governor Josh Shapiro helped prevent energy cost spikes.
Energy provider PJM was expected to raise its price cap auction to $500 per megawatt-day but after a lawsuit and settlement agreement with Governor Shapiro, the auction was capped at $329/MW-Day.
The agreement saved energy consumers $8.3 billion across 13 states, and Pennsylvanian’s $1.6 billion. In real terms, the agreement saves the average household $116 in energy costs.
In 2024, PJM saw an 800 percent increase at auction but this year the increase was capped at 35 percent.