Governor Moore Secures Win from PJM, Saving Marylanders from Billions on Electricity Bills

Governor Wes Moore today announced that the Board of Managers for grid operator PJM Interconnection released a decision to extend the capacity market price cap through the end of the decade. This decision follows sustained advocacy from Governor Moore and a coalition of 13 governors who demanded the grid operator take action to protect families and businesses from volatile rate hikes while long-term market reforms are implemented. This extension is a significant win for consumers, protecting them from runaway costs that have driven recent increases in electricity prices across the region. The move is projected to save 67 million Americans across the PJM region—including millions of Marylanders—an additional $27 billion on their energy bills. When combined with savings secured through earlier interventions supported by the Governor, the total regional savings now reach an estimated $45 billion.
“For too long, the personal impact on the people and families we represent has taken a back seat at PJM to the interests of companies and their shareholders,” said Governor Moore. “This decision highlights why decisions impacting the people’s lives and wallets must be made with us, not at us. By extending this price cap, we are preventing billions in unnecessary costs from being passed down to our residents, ensuring that we don’t have to choose between keeping the lights on and making ends meet.”

“The extension of the price cap marks a major step toward protecting Marylanders from unrelenting price increases. The existing price cap has already saved consumers billions of dollars; Governor Wes Moore’s continued success in pressuring PJM will further ease the strain on Marylanders’ electricity bills,” said Maryland Energy Administration Director Kelly Speakes-Backman. “But our work is not yet complete. We will continue to advocate at PJM for all residents to have access to affordable energy, especially as regional and national electricity demand from large loads such as data centers continues to surge at an unprecedented rate.”

The announcement is the latest victory in Governor Moore’s aggressive, multi-pronged strategy to address energy affordability and reliability in Maryland:

• Regional Collaboration & Federal Advocacy: In January 2026, Governor Moore joined a bipartisan coalition of 13 governors and the White House to sign a historic Statement of Principles, explicitly calling for an extension of the price cap to shield consumers while new generation is built. This followed the Governor’s direct engagement with the PJM Board, urging them to adopt cost-cutting measures.
• Executive Action: In December 2025, Governor Moore signed the Building an Affordable and Reliable Energy Future Executive Order, directing a whole-of-government approach to close the projected electricity generation gap and prioritizing non-wire alternatives to expensive infrastructure projects.
• Legislative Reform: Last month, the Governor introduced the Lower Bills and Local Power Act as part of his 2026 legislative agenda. The Act mobilizes nearly $200 million to provide direct energy bill rebates to families, modernizes the grid to reduce congestion costs, and incentivizes local clean energy generation.
• Direct Relief: These efforts build on the Next Generation Energy Act, which has already authorized $200 million in direct relief for Maryland ratepayers. The Public Service Commission also announced this week new discounted energy rates for low-income Marylanders, scheduled to take effect by 2027.
• Data Center Protections: In his State of the State speech on Wednesday, the Governor announced a framework for responsible data center development, ensuring developers can earn his support only if they bring their own new generation, hire and train local labor, and secure local community buy-in. This builds on work underway at the Public Service Commission to create a new rate class for large-load customers, ensuring data centers pay their own costs.

“We are building a 21st-century economy, and that requires a grid that is reliable, affordable, and responsive to the people it serves,” Governor Moore added. “While this price cap provides critical immediate protection, we will not let up. My administration will continue pushing for the changes needed to bring more power online faster and ensure Marylanders aren’t shouldering the burden of higher costs.”

The PJM Board has indicated it will file the necessary amendments with the Federal Energy Regulatory Commission (FERC) shortly to ensure the price collar is in place for the upcoming 2028/2029 auction.