Utility executives fault PJM’s energy market price reform process, eye faster action

摘要

Executives from four large utilities sent a letter to PJM Interconnection’s board that was circulated late Wednesday, calling on the grid operator to speed up the pace of energy market rule changes that would increase power prices. The letter drew mixed reactions Thursday. “PJM’s current wholesale power market design fails to reflect the full value of resources providing services, resulting in inaccurate price signals that undermine efficient investment by our companies and other market participants,” the executives said. The letter was signed by Ralph Izzo, Public Service Enterprise Group’s chairman, president and CEO; Douglas Esamann, Duke Energy’s executive vice president of energy solutions and president of Midwest and Florida regions; Chris Crane, Exelon’s president and CEO; and Charles Jones, FirstEnergy’s president and CEO. The officials appeared to be responding to a letter PJM circulated Tuesday from the Organization of PJM States that had requested an energy market rule change deadline extension. The state representatives argued that PJM’s market design changes are being pursued on an unnecessarily rushed timeline and will unreasonably increase customer costs.