New PJM CEO Manu Asthana Listens to Stakeholders on Capacity Order

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PJM President and CEO Manu Asthana addresses stakeholders at the Jan. 8 MIC.

On his third day on the job, PJM President and CEO Manu Asthana addressed stakeholders at PJM’s Jan. 8 Market Implementation Committee.

After an introduction from PJM Board of Managers Member and former Interim President and CEO Sue Riley, Asthana’s comments kicked off discussion on the Dec. 19 FERC order on PJM’s capacity market and minimum offer price rule.

He highlighted the importance of the order, the differing perspectives stakeholders have and the value of the day’s discussions. He noted that though he just started his role at PJM, he has followed the developments in the capacity market over the last several months.

“PJM is a stakeholder-driven organization, and so my view, Sue’s view and the Board’s view is that we want to listen before we decide our next steps,” Asthana said. “That’s why we’re here today. We want to listen to you – to your perspective. And specifically, your perspective on the order, what it means for your business and what you want us to do about it.”

At the Jan. 8 full-day committee meeting, PJM invited stakeholders to describe the anticipated impact of the FERC order on their businesses, customers and constituents.

Asthana also noted that he hopes to hear not only from stakeholders in attendance but also from those not in the room.

“We’re going to have to sit down and weigh all of the valuable input that we’ve received.”