Statement from Governor Phil Murphy, Senate President Nicholas Scutari, and Assembly Speaker Craig Coughlin on PJM’s Base Residual Auction 

Statement from Governor Phil Murphy, Senate President Nicholas Scutari, and Assembly Speaker Craig Coughlin on PJM’s Base Residual Auction 

“New Jersey cannot and will not accept a system that puts profits for out-of-state generators ahead of affordability for our residents. Our clean energy goals have always been rooted in lowering costs, increasing reliability, and building energy right here at home. But those efforts have been consistently undermined by the regional grid operator, PJM Interconnection, which has stalled critical projects that would create more energy here in New Jersey.

“The results of this Capacity Auction show that the price cap New Jersey fought for with other states this year prevented a historic spike in energy prices. However, the results of this auction…