(TRENTON) — Assemblyman Wayne P. DeAngelo (D-Mercer, Middlesex), Chair of the Assembly Telecommunications and Utilities Committee, issued the following statement after energy grid operator PJM Interconnection announced the results of its recent Base Residual Auction, a competitive capacity auction for the 2026/2027 delivery year:

“To say I’m disappointed with the results of PJM Interconnection’s latest capacity auction is an understatement. As the organization tasked with supplying energy for New Jersey and all or parts of 12 other states, there’s much that PJM can do to alleviate energy costs. Yet they have done just the opposite, raising costs yet again and failing to ensure adequate supply in the future. This is absolutely, unequivocally, unacceptable.

“PJM cannot just keep hitting the cap for their auction every year and saying it’s okay, especially not right after last year’s increase hit people’s bills this month. It’s a slap in the face for working families and seniors who are already struggling with their current utility bill. We need to lower costs instead of maintaining an already high price.

“New Jersey and most of the other grid states are doing everything we can to provide relief and increase energy generation. Assembly Democrats have been leading the charge to hold PJM accountable, increase transparency in the regulatory process, and find legislative solutions to help offset rising utility costs.

“If we could fire PJM, we would. As part of our legislative efforts to address energy affordability, Assembly Democrats passed legislation last month that directs the New Jersey Board of Public Utilities (BPU) to work with neighboring states to explore alternatives to PJM Interconnection’s capacity and transmission market. Now is the time for action and we will continue to work together to shape a more energy secure future for New Jersey.”