Who Runs PJM? FERC’s July 23 Governance Showdown

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Who Runs PJM? FERC’s July 23 Governance Showdown

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US Power & Utilities

Who Runs PJM? FERC’s July 23 Governance

Showdown

Industry Overview

FERC puts PJM governance under the microscope 21 July 2026

On July 23, FERC will host a Commissioner-led technical conference on actionable Equity

reforms to PJM’s governance and stakeholder processes. Key topics include board United States

authority, state participation, filing rights, stakeholder voting, transparency and potential Utilities

fast-track procedures. All are aimed at improving the timeliness and effectiveness of Ross Fowler, CFA

PJM decision-making. FERC invited panelists and stakeholders to submit statements to Research Analyst

frame the discussion. BofAS+1 646 855 1506

ross.fowler@bofa.com

Common ground: the status quo is too slow F. Paul Cole

Across the filings, broad support emerged for faster and more disciplined decision- ResearchBofAS Analyst

making, greater Board transparency and accountability, a stronger state voice, and +1 646 743 2122

paul.cole2@bofa.com

reforms that preserve meaningful stakeholder input while improving process efficiency.

Rinny Singh

Many parties also emphasize the need to better align authority with responsibility as Research Analyst

PJM addresses resource adequacy, transmission planning and rapid load growth. BofAS

+1 646 855 5729

rinny.singh@bofa.com

The fault line: how far should reform actually go? Nicolas Woods

Consensus ends at scope. AEP and PSEG call PJM’s governance fundamentally broken, Research Analyst BofAS

while Johns Hopkins argues PJM has grown disconnected from state priorities and the +1 646 556 4179

public interest. The IMM and R Street caution that transmission owners’ withdrawal nicolas.woods_barron@bofa.com