Exelon is preparing a 2026 legislative push to let regulated utilities own power plants in PJM. (Reuters)
CEO Calvin Butler argues PJM’s competitive market isn’t keeping up with surging demand. Allowing regulated utilities like Exelon to build generation could ease supply shortfalls and lower prices, he said.
The pitch: Exelon plans to target Maryland, New Jersey, and other PJM states considering rollbacks of 1990s deregulation laws. Butler pointed to community solar for low- and moderate-income neighborhoods as one near-term opportunity.
The debate: IPPs oppose the move, warning it could undermine competition and saddle customers with costs. Butler countered that utilities’ lower borrowing costs, existing land holdings, and streamlined permitting make regulated builds cheaper and faster than merchant projects.