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Senate approves probe urging reforms after disputed PJM auction; lawmakers spar over who should investigate
Summary
The New Jersey Senate passed a joint resolution urging investigation of PJM Interconnection’s recent capacity‑auction pricing spikes and reforms, 25‑12, after a contentious floor debate over whether the state Board of Public Utilities or a bicameral select committee should lead the inquiry.
The New Jersey Senate passed Senate Joint Resolution 154 on May 29, urging an investigation into PJM Interconnection LLC’s capacity‑auction pricing and calling for reforms after a dramatic floor exchange over who should carry out the inquiry.
Senator Joseph Buco, advancing an amendment to SJR 154, urged expanding the proposed investigation beyond PJM to include the New Jersey Board of Public Utilities (BPU) and “any other institution that had that could have contributed to this bridal,” arguing the bicameral select committee on rising energy costs should lead the probe. Buco moved to place the resolution on second reading for amendment to transfer investigative authority to that select committee, saying the committee could “get to the bottom of our energy crisis.”
Majority Leader Teresa Ruiz moved to table Buco’s…
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