Maryland Governor Extends PJM Price Cap to Curb Electric Bills

The move is expected to save 67 million people $27 billion on energy costs through 2030.

Published on Feb. 15, 2026

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Maryland Governor Wes Moore announced that the Board of Managers for grid operator PJM Interconnection has agreed to extend the capacity market price cap through the end of the decade. This decision is expected to save 67 million people an additional $27 billion on their energy bills.

Why it matters

High electric bills have put a significant strain on Maryland residents, forcing many to choose between keeping the lights on and making ends meet. This price cap extension aims to provide near-term relief for ratepayers while the state works to expand electricity generation to lower costs further in the long run.

The details

Governor Moore said the decision highlights the need for decisions impacting people's lives and wallets to be made with the public, not at them. The price cap extension is expected to prevent billions in unnecessary costs from being passed down to Maryland residents.

  • The price cap extension will be in effect through the end of 2030.

The players

Wes Moore

The Governor of Maryland who announced the PJM price cap extension.

PJM Interconnection

The grid operator that agreed to extend the capacity market price cap through 2030.

Baltimore Gas and Electric

The utility company that praised the move, noting it will provide near-term relief for ratepayers.

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What they’re saying

“For too long, the personal impact on the people and families we represent has taken a back seat at PJM to the interests of companies and their shareholders. This decision highlights why decisions impacting the people's lives and wallets must be made with us, not at us.”

— Wes Moore, Governor of Maryland (wbal.com)

“By extending this price cap, we are preventing billions in unnecessary costs from being passed down to our residents, ensuring that we don't have to choose between keeping the lights on and making ends meet.”

— Wes Moore, Governor of Maryland (wbal.com)

What’s next

The price cap extension will be in effect through the end of 2030, providing long-term relief for Maryland ratepayers.

The takeaway

This decision by Governor Moore and PJM Interconnection demonstrates a commitment to prioritizing the needs of Maryland residents over the interests of energy companies. It is a significant step towards making electricity more affordable and accessible for all.