Adding more wind power to the grid in the PJM region can lower gas and coal consumption and reduce regional wholesale energy market prices, saving nearly $7 billion per year in the mid-2020s, according to a new study conducted by Synapse Energy Economics on behalf of Americans for a Clean Energy Grid.
The report found that doubling the wind generation already planned in the region would lower fuel costs and drive down prices by $1.74 per megawatt hour (MWh) in the largest wholesale competitive energy market in the world, PJM, which includes all or parts of 13 states and Washington, D.C. The savings also extend into the regions interconnected with PJM.
The report underscores the new reality: that having a modern grid and connecting wind power to it will save consumers money.
Come join us for the release of this report today at 1:30pm at the UN Foundation offices at 1615 M St. NW, 7th Floor, Washington DC.
If you can’t make it, dial-in and hop on our webcast: 866-805-0848; Password: 202-778-3557#; Weblink: http://bit.ly/13s0QGZ
The event will have a presentation from Bob Fagan, Economist, Synapse Energy Economics as well as a panel discussion that will include Jim Hoecker, Counsel & Advisor to WIRES and former FERC Chairman; Joe Kelliher, EVP, NextEra and former FERC Chairman; and Bruce Burcat, Executive Director, Mid-Atlantic Renewable Energy Coalition. This will be followed by a panel discussion.
RSVP to email@example.com–we hope you can join us.
Read the full report here.