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White House Urges PJM Interconnection to Implement Emergency Power Auction - Cozzy Energy Solutions The White House is urging the PJM Interconnection, a major U.S. electric grid serving 67 million customers across 13 states and Washington, D.C., to implement an emergency power auction to mitigate potential rolling blackouts driven by rapidly increasing energy needs from data centers, which are outpacing the nation's ability to build new power generation facilities, amid escalating electricity prices and growing reliability risks in the mid-Atlantic region.

White House Urges PJM Interconnection to Implement Emergency Power Auction #PJM #AuctionMechanism #EnergyInflation #GridModernization #MidAtlanticReliability #PowerGeneration

New Jersey Electricity Customers Face Potential $20 Monthly Increase Due to Summer Supply Challenges New Jersey electricity customers are facing higher bills soon, with potential increases of up to $20 monthly—roughly a 17% to 20% rise—due to increased electricity auction prices reflecting higher demand and limited supply. These price adjustments were authorized by the state’s Board of Public Utilities in February. PJM Interconnection, the grid operator for New Jersey and 12 other Mid-Atlantic states, recently released a summer 2025 forecast, highlighting potential supply challenges as summer approaches. While sufficient power is anticipated for typical demand, a hotter-than-average summer, as predicted by the National Weather Service, raises concerns. PJM expects peak energy use to reach approximately 154,000 megawatts, but warns that available generation capacity could be insufficient if demand surges to 166,000 megawatts. The highest recorded summer peak occurred nearly two decades ago in 2006, reaching 165,563 megawatts; last year's peak was about 152,700 megawatts, and the year prior, 147,000 megawatts. One megawatt is generally capable of powering around 800 homes. Aftab Khan, PJM’s executive vice president, emphasized the growing concern regarding resource availability to maintain grid reliability, urging all resources within PJM’s service area to be ready for potential calls to action. State Sen. Andrew Zwicker has publicly criticized PJM's performance, particularly regarding delays in connecting renewable energy projects to the grid, and has called for legislative action to pressure PJM to expedite these connections. PJM oversees the electric grid for a vast area, serving approximately 70 million residents from New Jersey to North Carolina and as far west as Illinois.

New Jersey Electricity Customers Face Potential $20 Monthly Increase Due to Summer Supply Challenges #PJM #EnergyInflation #ElectricityRates #SummerSupplyChallenges #GridReliability #UtilityRegulation

#EnergyInflation
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New Jersey Residents Face Increasing Electricity Costs this Summer - Cozzy Energy Solutions New Jersey Residents Face Increasing Electricity Costs this Summer PSE&G Announces Price Increase Amid Rising Energy Costs A recent forecast has predicted a 20% rise in electricity costs for New Jersey residents this summer. Public Service Electric and Gas (PSE&G) has announced plans to increase prices by $0.05 per kilowatt-hour, citing rising energy costs as the main reason. In an effort to help households mitigate the impact of these price increases, PSE&G is offering various programs and incentives. These initiatives include providing energy-efficient appliances and lighting, conducting home audits to identify areas for improvement, and offering rebates for energy-efficient upgrades. New Jersey State Initiatives Promote Renewable Energy The state's efforts to promote renewable energy are also worth noting. New Jersey has implemented several initiatives aimed at reducing greenhouse gas emissions and increasing the use of clean energy sources. While the rising cost of electricity is a concern, these programs provide consumers with opportunities to reduce their energy bills and contribute to a more sustainable energy future. By offering support for energy-efficient upgrades and promoting renewable energy, PSE&G and the state of New Jersey are taking steps to help residents navigate the challenges posed by rising energy costs.

New Jersey Residents Face Increasing Electricity Costs this Summer #PJM #NewJersey #ElectricityCosts #EnergyInflation #RenewableEnergy #PSEG

In March 2024, #OECD #energyinflation was positive for the first time since Apr 2023, at 0.6%. It increased in 28 OECD countries, 12 of which remained in negative energy inflation, including 🇬🇧 the UK, 🇮🇹 Italy, and 🇺🇸 the US.

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#OECD #energyinflation increased but remained moderately negative at minus 0.5% in February, despite strong energy inflation in 🇹🇷Türkiye and 🇨🇴Colombia.

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#OECDStats

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#Energyinflation in the OECD has been negative since May 2023 and remained so in 23 OECD countries.

However, 🇹🇷Türkiye and 🇨🇴Colombia experienced energy inflation in excess of 25% in January 2024.

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#Energyinflation in December in the OECD remained negative for the eighth consecutive month at -2.3%.

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#OECDStats