The Maryland Energy Administration announced its support for a proposal by PJM Interconnection to extend its existing capacity market price cap and floor through the 2029/2030 delivery year.
The proposal, filed with the Federal Energy Regulatory Commission, would maintain a price cap of approximately $325 per megawatt-day as a safeguard against market volatility and sharp increases in energy costs. State officials said the price collar has helped limit costs, noting that a recent auction could have been about 60 percent higher without it.
Maryland leaders, including Governor Wes Moore, said the extension is part of a broader effort to address rising energy costs while pursuing long-term solutions such as increasing power generation and energy storage. The state has also joined other PJM-region governors in calling for reforms to the capacity market and has taken additional steps, including an executive order and proposed legislation, aimed at improving energy affordability for residents and businesses.
