Payouts Fall on Top US Power Grid in Win For Nukes, Blow to Coal

Power providers to get $34.13 a megawatt-day, down 32%
PJM’s auction plays key role in shaping US energy landscape

A nuclear power plant in Limerick, Pennsylvania.Photographer: Bradley C. Bower/Bloomberg

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By Will Wade and Naureen S Malik

June 21, 2022 at 8:06 PM UTC

Updated on

June 21, 2022 at 10:35 PM UTC

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Electricity generators on the grid stretching from New Jersey to Illinois will be paid 32% less next year to provide backup power, a blow to aging coal plants.

Suppliers on the nation’s largest grid will get $34.13 a megawatt-day, down from $50 now, for 12-month capacity contracts starting in June 2023, according to the results of an auction released Tuesday by PJM Interconnection LLC, which operates the system.