Governor Wes Moore announced that the Board of Managers for grid operator PJM Interconnection has extended the capacity market price cap through 2030, a move expected to save consumers across the region an estimated $27 billion. This decision follows sustained advocacy from Governor Moore and a coalition of 13 governors, aimed at protecting families and businesses from volatile electricity rate hikes while long-term market reforms are implemented. The extension builds on prior interventions supported by the Governor, bringing total regional savings to approximately $45 billion, and directly benefits millions of Maryland residents.
Governor Moore emphasized that the extension ensures decisions affecting energy costs prioritize the needs of consumers over corporate interests. Maryland Energy Administration Director Kelly Speakes-Backman noted that while the price cap significantly eases financial pressure on households, the state will continue to advocate for affordable energy access, particularly as regional electricity demand grows due to large loads such as data centers.
The announcement reflects the latest success in Governor Moore’s comprehensive strategy to improve energy affordability and reliability in Maryland. In January 2026, he collaborated with a bipartisan coalition of governors and the White House to call for the price cap extension. In December 2025, he signed the Building an Affordable and Reliable Energy Future Executive Order, directing a coordinated approach to close projected electricity generation gaps and prioritize cost-effective, non-wire alternatives.
Legislative efforts also support this strategy, including the Lower Bills and Local Power Act, which mobilizes nearly $200 million for direct energy bill rebates, grid modernization, and incentives for local clean energy generation. These initiatives build on the Next Generation Energy Act, which authorized $200 million in direct relief for ratepayers, alongside new discounted energy rates for low-income households scheduled for 2027.
Governor Moore has also introduced protections for data center development, ensuring new projects bring their own generation capacity, hire and train local labor, and gain community support. These measures complement Public Service Commission initiatives creating new rate classes for large-load customers, ensuring costs are fairly allocated.
Construction of a more reliable, affordable, and responsive grid remains central to the Governor’s agenda. The PJM Board has indicated it will submit the necessary amendments to the Federal Energy Regulatory Commission (FERC) to formalize the price cap for the upcoming 2028/2029 capacity auction, solidifying long-term protection for Marylanders against rising electricity costs.
