Press Releases

Congressman Morgan Griffith (R-VA) issued the following statement after one of the country’s largest regional power grid operators, PJM Interconnection, announced the results of its annual auction that locks in electricity capacity prices three years in advance:

“The Obama Administration’s war on coal has consequences.  This auction, which establishes capacity prices for 2015-2016 – also, the first year electric generators will be required to comply with EPA’s costly Utility MACT rule – demonstrates the devastating impact the EPA is having on our electricity rates.  The 2015-2016 prices, a mere three years from now, are 8 times higher than the $16 per megawatt (MW) price that was set for this year.  As explained by PJM, the ‘auction was impacted by an unprecedented amount of planned generation retirements (more than 14,000 MW) driven largely by environmental regulations, which drove prices higher than last year’s auction.” 

“For years, President Obama and the EPA have actively engaged in a war on coal.  Sadly, the victims of this war are the people of the Ninth District and the United States.  To be clear, electricity costs will likely increase substantially, but the total of that increase is yet to be seen.  I will do all that I can to see that we change course in Washington now.  In light of this huge increase caused by regulation, hopefully the Senate and the President will join me.”

 

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