Shapiro ‘Price Cap’ Could Hike Electricity Bills

Originally published by Delaware Valley Journal.

Gov. Josh Shapiro’s proposal to cap electricity prices could, perversely, lead to higher customer bills and a greater risk of blackouts, according to America’s Power, a trade organization of coal-fired power plants.

Following negotiations with the governor, power grid operator PJM Interconnection submitted a plan to the Federal Energy Regulatory Commission (FERC) to restrict prices for two years—a period that would extend, coincidentally or not, beyond Shapiro’s 2026 reelection campaign. On April 22, FERC approved the settlement.

As usual, the governor ran a premature victory lap. Shapiro called a $14.7 billion boost in electricity costs last year the “largest unjust wealth transfer in the history of U.S. energy markets.” The price cap would provide nearly $22 billion in savings, the governor claimed.

Read more at the Delaware Valley Journal.