Settle in to hear how a utility got in trouble.
PJM, one of the largest utility companies in the US, has been put in a hard spot by circumstances only partly of its own design. Numerous delays to new energy supplies, generally faulty planning, and then sudden changes to both supply and demand created $12 billion in new costs for the coming year—a cost that will be passed on to the 65 million people that rely on them for electricity. The sticker-shock of this rate increase is sure to gain attention, no matter how obscure a regulated monopoly might be.
This utility, PJM Interconnection, is a regional transmission organization (“RTO”) governed by a limited liability corporation, or “LLC,” made up by and for the utilities and power plant owners in 13 Mid-Atlantic and Ohio Valley states. UCS is currently fighting what could be a series of annual $10 billion…
Read the full article originally published at blog.ucsusa.org.