Asim Haque, executive director – Strategic Policy and External Affairs, appeared before the Pennsylvania House of Representatives Democratic Policy Committee on Monday to talk about the benefits PJM and wholesale electricity markets bring to Pennsylvania.
The hearing took place in Wyndmoor, Pa., and was designed to explore the future of nuclear energy in the state. During his educational testimony, Haque highlighted how PJM’s competitive markets have provided tremendous cost savings to Pennsylvania consumers and have attracted an abundance of new investment in the state.
Over the past five years, Pennsylvanians have seen more than $2 billion in savings through PJM’s markets, Haque testified.
“We know how important electricity prices are to a state’s economy,” Haque said. “Especially an economy like Pennsylvania’s which has a strong industrial and manufacturing base.”
Pennsylvania has also developed the most robust generation development market among states in PJM, Haque noted. In 2018 alone, 19 new or upgraded natural gas plants – over 5,000 MW of capacity – came online in Pennsylvania. In addition, PJM is presently studying 7,500 MW of planned natural gas projects in Pennsylvania.
“This is a major success for Pennsylvania and its consumers,” Haque said.
Haque also talked more generally about PJM’s role as a grid operator, and how its markets work in tandem with expert planning and operations to keep the lights on 24 hours a day, 365 days a year for Pennsylvania and the broader region PJM serves.