CONTACT: John E. Shelk 202-628-8200
WASHINGTON, DC – Electric Power Supply Association (EPSA) President and CEO John E. Shelk released the following statement in response to today’s announcement by PJM Interconnection as to how it intends to proceed with the 2019 capacity auction. EPSA looks forward to reviewing and commenting on PJM’s motion for clarification PJM said will be filed at FERC later today.
“EPSA commends PJM for moving forward with the capacity auction this August. EPSA members have invested in PJM supply resources at their own risk as federal and state policymakers sought. Investors rely on the accuracy of capacity market price signals as well as those in energy and ancillary services markets. Thus, maintaining investor confidence is critical to the continued success of the PJM market.”
“EPSA opposes delaying the 2019 auction to 2020. This is merely an attempt by some to buy time to continue seeking costly subsidies. Such out of market payments erode PJM’s markets at the expense of consumers and competition. Nuclear utilities have launched new subsidy- seeking schemes in multiple PJM states just in recent weeks.”
“EPSA renews its call for FERC to protect the integrity of PJM’s capacity market. Only FERC has the responsibility and the authority to do so. Ideally, FERC would have already acted as EPSA and many others have long sought. Instead, it will soon be ten full months since FERC ruled that PJM’s capacity market must be protected from the well-documented distortions caused by nuclear subsidies. The time to implement an effective solution to that identified problem is now.”
Launched over 20 years ago, EPSA is the national trade association representing leading independent power producers and marketers. EPSA members provide reliable and competitively priced electricity from environmentally responsible facilities using a diverse mix of fuels and technologies. Power supplied on a competitive basis collectively accounts for 40 percent of the U.S. installed generating capacity. EPSA seeks to bring the benefits of competition to all power customers.