Andrew Tubbs, president and CEO of Energy Association of Pennsylvania (EAP), today issued the following statement on the PJM Auction Results:
“PJM’s recent capacity auction cleared at the regulatory cap, highlighting the need for new generation to meet rising demand, and the importance of continued collaboration among utilities, policymakers, regulators, and market participants.
“Capacity costs, while only one part of the bill, have risen sharply and will impact the bills of both residential and business customers. All customers benefit from a capacity market that enables timely, cost-effective development of generation.
“Price signals alone do not build power plants. A sound energy policy encourages the timely development of new baseload and renewable generation, streamlines permitting, and promotes stable market frameworks that support affordable and reliable power for all Pennsylvanians.
“The Energy Association of Pennsylvania and its members remain committed to advancing pragmatic, customer-focused solutions to meet Pennsylvanian’s future energy needs.”
# # #
About EAP
The Energy Association of Pennsylvania (EAP) is a trade association that represents and promotes the interests of regulated electric and natural gas distribution companies operating in Pennsylvania. Collectively, EAP’s members deliver energy to more than 8.7 million residential, commercial and industrial customers.
Contact: Jill Helsel Gingrich, jill@latorrecommunications.com