FERC Electricity Market Ruling a Step Toward Achieving Shared Energy Goals, Electric Power Supply Association Welcomes, Reviews FERC Action on PJM’s Capacity Markets
Washington, D.C. – In response to the Federal Energy Regulatory Commission (FERC)’s long-anticipated order on capacity market revisions in PJM, the Electric Power Supply Association (EPSA)’s president and CEO Todd Snitchler issued the following statement:
“EPSA and its member companies—America’s competitive power suppliers—appreciate FERC’s efforts and thank the Commission for its action on this critical issue, which will help bring us closer to building a durable and sustainable market design that meets the needs of the 21st century.
“For more than two decades, competitive wholesale electricity markets have delivered tangible benefits for energy consumers and our environment—most importantly by maintaining system reliability but also by encouraging efficiency, flexibility, and innovation in the power generation sector that has led to lower costs and reduced emissions through retirement of outdated facilities and investment in new technologies.
“While there may be need to reform the PJM capacity market, centralized procurement has delivered positive results for consumers and shouldn’t be minimized or abandoned. It is a critical mechanism for making secure, efficient, and reliable power available to over 65 million customers across 13 states and the District of Columbia.
“As our energy landscape evolves to incorporate new resources and meet our shared goals surrounding reliability, cost, and our environment, so too must the market. Continued progress toward these goals relies on building a durable and sustainable regulatory framework that supports well-functioning electricity markets. Any market design should be transparent, open, and nondiscriminatory—providing all market participants and investors clear pricing signals and granting sufficient confidence that they will have the opportunity to recover their investment and pursue new investments.
“We and our member companies are reviewing the order and evaluating its impact on our ability to continue to deliver the benefits of competition to all Americans.”
