Energy prices and finger pointing.
If you haven’t yet heard, the electricity prices in PJM are going to skyrocket. The capacity charge (the amount you need to pay to make sure that generation capacity is on call when you need it), went up by a factor of 9 times. YES 9!
Oh, that’s not good: Energy prices at PJM capacity auction skyrocket 9x
Both sides of the energy spectrum came out blaming and finger pointing at each other, but the fundamental factors are in dispute (quoting from the article):
- Decreased supply offers into the auction due mainly to generator retirements
- Increase in projected peak load
- FERC-approved market reforms, including improved reliability risk modeling for extreme weather and accreditation that more accurately values each resource’s contribution to reliability
While this is bad news by itself, it portends a future of increasing prices, declining reliability and more outages. You can no longer afford to be a passive, you need to take action now and the best way is to partner with a Concierge Utility who works for you. Exergy Energy is that Concierge Utility. Check out https://exergyenergy.com