News

Electricity capacity prices skyrocketed 900% in latest auction 

ANNAPOLIS, MD – Today, Maryland State Senator Ron Watson and Maryland Delegates Adrian Boafo, Lorig Charkoudian, David Fraser-Hidalgo, and Natalie Ziegler released a joint statement on the skyrocketing electricity prices announced last week byMaryland’s electric grid operator, PJM. Prices in its annual capacity auction rose over 900 percent, from $28.92 per megawatt-day to $269.92. The price increase was most significant in Maryland, rising to $466.35. Next June, most Maryland ratepayers will likely see electricity bill increases well over 30 percent.  

These prices are driven in large part by the grid operator’s years-long issues in getting more generating resources connected to the grid. At the end of 2023, PJM had 3,309 projects – mostly solar and battery storage – waiting to connect to the grid and provide cheaper power to the region. PJM earned a national-worst “D-” in a recent scorecard from Advanced Energy United of all grid operator interconnection processes earlier this year, with developers forced to wait longer in PJM than any other region in the country. These clean energy projects together have enough capacity to replace all the generation currently operating in the PJM system, even after planned fossil fuel plant retirements. Because of this backlog, new renewable projects cannot even apply to bring power to Maryland consumers until 2026.  

H.B. 862, a bill to advance grid-enhancing technologies, was signed into law last night by Gov. Glenn Youngkin

RICHMOND, VA – Last night, Virginia Gov. Glenn Youngkin signed a grid-enhancing technologies bill into law after it passed the General Assembly with bipartisan support. H.B. 862, proposed by Del. Phil Hernandez and endorsed by national business association Advanced Energy United, will improve grid reliability and increase the capacity of the existing grid to keep up with the Commonwealth’s growing energy needs. 

The bill requires that electric utilities in the state consider grid-enhancing technologies (GETs), a suite of technological upgrades that could add 30-40% more capacity to the current grid and save the Commonwealth money on grid congestion costs, in the Integrated Resource Plan (IRP) process.  

The DRIVE Act paves the way for advancements in electric vehicle and grid integration, and bolsters Maryland’s energy resiliency 

ANNAPOLIS, MD – The Distributed Renewable Integration and Vehicle Electrification (DRIVE) Act (H.B. 1256) was passed by the Maryland General Assembly last night and is now poised to modernize the state’s energy management and grid preparedness. Advanced Energy United, a national business association representing over 100 businesses including transmission developers, electric vehicle (EV) manufacturers, and charging infrastructure providers, gave written testimony in support of the legislation to the House Economic Matters Committee earlier this legislative session.  

“The DRIVE Act shows that Maryland is serious about getting its electric grid ready for an electrified future,” said Nick Bibby, Maryland State Lead for Advanced Energy United. “This legislation will help residents and businesses tap into the unique capabilities of clean energy resources and electric vehicles to lower energy costs and support the resiliency of the electric grid.” 

New regulations will provide advantages for businesses that adopt electric vehicle fleets

WASHINGTON – Today, the U.S. Environmental Protection Agency (U.S. EPA) announced new emissions standards for heavy-duty vehicles sold in the U.S. from 2027 to 2032, providing regulatory certainty for automotive and charging industries, and private and public fleet operators, charting a path to less harmful emissions by growing electrified transportation fleets. 

“In providing nationwide certainty that America is switching to electric trucks and buses, these industries can now invest confidently in an all-electric transportation future,” said Ryan Gallentine, Managing Director at Advanced Energy United, a national business association of companies providing clean energy and transportation solutions in America. “Many of these models are already more cost-effective than combustion engine alternatives when fuel costs and tax incentives from the Inflation Reduction Act are factored in, offering U.S. businesses and freight providers that convert their fleet new savings and operational advantages.” 

New U.S. EPA targets provide the certainty industry needs to accelerate transition to EVs

WASHINGTON – Today, the U.S. Environmental Protection Agency (U.S. EPA) announced new tailpipe emissions standards for light-duty vehicles sold in the U.S. from 2027 to 2032, providing regulatory certainty for the auto industry on the path ahead and flexibility for automakers on how to reach the end goal of a fully electrified consumer transportation fleet. 

“As we experience increasingly widespread adoption of technologically superior and increasingly popular electric vehicle models, these standards provide clarity and market certainty on the timeframe,” said Ryan Gallentine, Managing Director at Advanced Energy United, a national business association of companies providing clean energy and transportation solutions in America. “Nearly every automaker sees that to keep up with changing consumer interests and global technology trends a quick switch to electric vehicles is in order. As many states raise the ceiling for what’s expected, these federal standards set an industry floor for that transition so that all consumers can have access to reliable, affordable, all-electric vehicles in the coming decade.”