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NOPEC warns Norwalk council of higher electric costs after PJM capacity auction spike
Summary
NOPEC representatives told the Norwalk City Council that a recent PJM capacity auction raised base prices roughly 800%, a change they said could drive 15–20% increases in customer electric bills over the next 2–3 years and encouraged residents to review opt‑out mailings.
Chuck Heiper, chief executive officer of NOPEC, told the Norwalk City Council on April 15 that a recent PJM interconnection capacity auction raised the base price for future capacity about 800%, a spike that NOPEC expects will push typical electric bills up roughly 15 to 20 percent.
Heiper said the rise follows a pause in auctions during the pandemic and other regulatory disputes, and that the grid operator PJM — which coordinates power across 13 states including Ohio — ran an auction last fall that set the new higher base price. “The base price for future capacity went up 800%,” Heiper said. “We think that’s likely to occur for the next 2 or 3 years.” He added: “The news is not good. We’re all gonna pay a little more.”
The presentation included context about what…
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