Statement by Governor-elect Mikie Sherrill on Governors’ Principles for PJM

“Rising electric bills are the number one concern I hear about across New Jersey, which is why I pledged to take bold action to freeze rate hikes and take on our grid operator, PJM. Clearly, that message resonated in November – New Jerseyans and ratepayers across the country are demanding action, and I will get right to work on Day One to lower utility costs and increase in-state power generation.

“I am pleased to see governors coming together to demand real action from PJM to address the energy crisis our region faces. This is a good first step. These principles – particularly the cap on capacity prices and allocating the cost of new generation to the data centers that are driving up demand and should pay their fair share – are vital to protect ratepayers. But, details matter, and the implementation of these principles must encourage rapid deployment of all energy solutions. I will work with other governors in the region to advocate for meaningful reforms at PJM to ensure our ratepayers and constituents are not caught in an endless cycle of mismanagement and unsustainable rising costs.”