Governor Wes Moore announced on February 13, 2026, that PJM Interconnection’s Board of Managers has extended the capacity market price cap through 2030, a move expected to save consumers across the 13-state PJM region an additional $27 billion on electricity bills while long-term reforms address grid challenges.
The decision caps capacity auction bids at $325 per megawatt-day for the 2028/2029 and 2029/2030 delivery years, preventing sharp increases that could otherwise pass to ratepayers amid surging demand from data centers and other large loads. Combined with prior interventions, total projected regional savings now stand at $45 billion for 67 million people, including millions in Maryland.
Moore credited sustained advocacy from himself and a bipartisan coalition of 13 governors, who in January 2026 signed a Statement of Principles with White House officials urging the extension to shield families during generation buildout delays. The governor highlighted the outcome as a direct response to consumer priorities over corporate interests.
“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,” Moore said. “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.”
Maryland Energy Administration Director Kelly Speakes-Backman added: “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. 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 extension builds on Moore’s multi-faceted approach to energy affordability and reliability. In December 2025, he signed the Building an Affordable and Reliable Energy Future Executive Order, directing state agencies to close generation gaps and favor cost-effective non-wire alternatives. Last month, he introduced the Lower Bills and Local Power Act in his 2026 legislative agenda, allocating nearly $200 million for direct rebates, grid modernization to cut congestion costs, and incentives for local clean energy.
These efforts complement the Next Generation Energy Act’s $200 million in authorized ratepayer relief and a Public Service Commission announcement of new discounted rates for low-income customers starting in 2027. In his recent State of the State address, Moore outlined a framework for data center development requiring new generation, local hiring, training, and community support, plus PSC work on a separate rate class for large users to ensure they cover their grid impacts.
PJM’s board will file amendments with the Federal Energy Regulatory Commission soon to implement the cap for the 2028/2029 auction. The move addresses capacity market dynamics where short-term commitments have struggled to attract new generation amid investment hurdles.
This victory reflects regional collaboration to balance immediate consumer protection with long-term grid enhancements, as demand pressures continue across the PJM footprint covering parts of 13 states and the District of Columbia.