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Largest US grid could see 58 GW of power generation shut by 2030
- 8 months ago (2024-03-18)
- David Flin
The largest US power grid, PJM Interconnections , could lose up to 58 GW of generating capacity by the end of the decade, according to a report by PJM’s Independent Market Monitor. Most of this generating capacity lose will be from closed fossil fuel-fired generating plants.
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The report says that over 33 GW of power capacity are at risk of retirement due to a decline in prices in the region’s capacity market in 2023, the biggest annual fall since the creation of PJM markets in 1999. Another 19.6 GW face possible early retirement due to state and federal regulatory requirements, the report says.
The region covered by PJM stretches from the mid-Atlantic to Chicago. The report warns that these retirements could boost costs for consumers unless PJM can secure sufficient replacement capacity before 2030.