Exelon Commends FERC for Order Extending PJM Price Collar, Continuing Cost-Saving Measure for Customers
Exelon Commends FERC for Order Extending PJM Price Collar, Continuing Cost-Saving Measure for Customers
CHICAGO--(BUSINESS WIRE)--Exelon commends an order issued on April 28th by the Federal Energy Regulatory Commission (FERC) that extends the current capacity price collar in PJM. As a part of the recently launched Exelon Promise, the public utility company has been advocating for policy reforms, like the extension of PJM’s capacity price collar, as an essential component of managing energy affordability challenges customers are navigating as efforts to plan for the current and future reliability of the PJM regional electric grid advance.
“Exelon shares frustration over high energy supply costs, which is why advocating for reforms like extending the PJM capacity price collar is a key part of The Exelon Promise initiative to keep bills as low as possible.”
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With the order, the price collar will now cover the period between June 2028 – May 2030 – during this time, Exelon expects that this extended collar will save customers in the PJM region tens of billions of dollars, providing immediate relief while stakeholders continue to collaborate on long-term solutions for energy affordability, reliability and supply challenges facing PJM.
“Exelon shares frustration over high energy supply costs, which is why advocating for reforms like extending the PJM capacity price collar is a key part of The Exelon Promise initiative to keep bills as low as possible,” said Colette Honorable, Executive Vice President, Chief Legal Officer, Compliance and Corporate Secretary at Exelon. “Despite PJM anticipating electricity demand to grow by more than 30 GW by 2030, new supply resources are not materializing at a pace needed to ensure reliability and affordability. The price cap helps protect customers and make sure they are not on the hook while the region is waiting for supply to catch up.”
The Exelon Promise is the public utility company’s all-of-the-above initiative to address the root causes of rising energy costs and ensure our communities have access to the power they need for decades to come. Solutions include a combination of Exelon’s $60 million Customer Relief Fund, award-winning energy efficiency programs, negotiating innovative agreements with large load customers like data centers to protect other customers, and policy reforms such as utility-generated power.
About Exelon
Exelon (Nasdaq: EXC) is a Fortune 200 company and one of the nation’s largest utility companies, serving almost 11 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco. Exelon’s more than 20,000 employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow @Exelon on X and LinkedIn.
