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Founder at NXTGEN Clean Energy Solutions |Sustainability Consulting + Solar + Wind + Battery Storage + Electric Vehicle Charging + Solar Light Poles | Helping businesses improve the bottom line and the environment
?? Brace for Higher Rates: PJM and FirstEnergy Will Hit Businesses Hard ?? The recent surge in PJM Interconnection's capacity auction prices will dramatically increase electricity rates across the PJM region. Prices have skyrocketed to a record $269.92 per megawatt-day, up from just $28.92 per megawatt-day last year. This sharp rise is expected to significantly impact both businesses and residential customers. In addition, FirstEnergy in Ohio is planning to revert to an older Electric Security Plan (ESP IV), which may reintroduce additional surcharges for customers. Energy consultant Matt Brakey warns that businesses could face significantly higher electricity costs if this happens, with some even seeing their rates triple, depending on the final outcome of regulatory decisions. For many businesses, electricity is the third-largest expense after payroll and rent, and these potential rate hikes could put a serious strain on their bottom line. As these developments unfold, it’s critical for businesses to explore alternative energy solutions to mitigate these rising costs. Clean energy options provide more predictable, long-term savings. Check out the Crain's Cleveland Business article to learn more via the following link... https://lnkd.in/e75Vt2xS #PJM #FirstEnergy #ElectricityCosts #EnergyTransition #Sustainability Jeff Poore Casey Weinstein Marc Palmer Michael Heyeck Alexia Croft Paul Rhodes III Geoff Gilmore Carl Bartells NXTGEN Clean Energy Solutions