NORTH JERSEY — U.S. Rep. Josh Gottheimer (D-NJ-5) and Rep. Lloyd Smucker (R-PA-11) on Thursday led a bipartisan group of lawmakers in demanding accountability and transparency from PJM Interconnection, the regional power grid operator serving New Jersey and 12 other states, as the company begins its 2026–2027 capacity market auction this week.
The group of 10 lawmakers sent a letter to PJM CEO Manu Asthana raising concerns about last year’s capacity auction, which they say contributed to a 40% spike in electricity prices for New Jersey families. The auction sets future utility rates across the region.
“We echo the concerns of our constituents that PJM shares responsibility in the increase of electric rates throughout the region,” the lawmakers wrote. “Last year’s auction results — where capacity clearing prices rose from $29 to $270 per megawatt-day — raises heightened concerns about the underlying factors contributing to that outcome, and the role PJM played in driving up costs for ratepayers.”
The lawmakers are urging PJM to ensure that this year’s auction avoids a repeat of 2024’s outcome, which they argue stemmed from PJM overpaying for energy supply while failing to integrate new supply into the grid.
“To that end, our aim is to gain a better understanding of the steps PJM is taking to ensure that the millions of families and seniors that fall within PJM’s region do not face yet another price hike in their electricity bills,” the letter states.
The letter was signed by Reps. Brian Fitzpatrick (R-PA-1), Marcy Kaptur (D-OH-9), Sarah McBride (D-DE-AL), Kweisi Mfume (D-MD-7), Mike Quigley (D-IL-5), Jan Schakowsky (D-IL-9), Suhas Subramanyam (D-VA-10), and Eugene Vindman (D-VA-7).
