PJM Interconnection anticipates a substantial increase in electricity demand due to electric vehicle and industry electrification, necessitating the maintenance and development of sufficient generation resources. The grid operator expects a load of 151,254 MW and 134,663 MW for the 2024 summer and winter respectively, with annual growth rates of 1.7% and 2% respectively. Additionally, PJM plans to clear 300 new power generation projects totaling 26,000 MW in 2024, with an additional 46,000 MW of projects ready for construction by mid-2025.

Electricity Demand Surge Predicted