Governor Josh Shapiro announced a major agreement with PJM Interconnection that will save consumers over $21 billion in energy costs over the next two

Eastern grid operator PJM Interconnection LLC reached a preliminary agreement Tuesday with Pennsylvania Gov. Josh Shapiro to resolve a pending lawsuit to cap prices paid to electricity generators for future supply.

Pennsylvania Gov. Josh Shapiro on Tuesday announced he’s reached agreement with the regional grid operator PJM Interconnection that he said will blunt the expected sharp rise in the cost of electricity later this year.

Governor Josh Shapiro reached an agreement with PJM on a plan to save consumers over $21 billion more than the next two years.

Pennsylvania Gov. Josh Shapiro said he worked with PJM to lower the capacity auction price cap – from over $500/MW-day to $325/MW-day.

PJM Interconnection, which controls the flow of electricity to a dozen states, planned to hike rates for consumers through 2028. Shapiro joined the governors of Maryland, Delaware and New Jersey to file a federal complaint Dec.

Governor Josh Shapiro has reached an agreement with PJM Interconnection after filing a lawsuit over its capacity auction design that could have imposed new price increases. Both parties resolved that lawsuit to reduce their price cap for the next two years.

Pennsylvania Governor Josh Shapiro on Tuesday said he has reached an agreement with grid operator PJM Interconnection to settle his recent complaint about its power market rules and save consumers over $21 billion in energy costs over two years.

Josh Shapiro has pressed the Eastern grid operator for answers to high prices amid tighter electricity supplies.

The organization that oversees the region’s electrical grid has agreed to a new cap on certain power price hikes, following a threat from Pennsylvania Gov. Josh Shapiro to consider pulling out of the system.