EXTON, PA — At the 13th Annual SEI Energy Briefing held February 11 at the Chester County Economic Development Council, David Velazquez, President and CEO, PECO and Asim Haque, Senior Vice President of Governmental and Member Services at PJM Interconnection addressed more than 50 attendees about pressing energy issues including the surge in demand and the unique challenges and opportunities for power providers and energy consumers.
A program of the Chester County Economic Development Council (CCEDC), the Smart Energy Initiative (SEI) is designed to provide business and community leaders with invaluable insights regarding energy markets, alternative sources, growing demand, policies and opportunities in Pennsylvania and nationally.
“After years of seeing flat energy demand, the rise of AI and the need for data centers has pushed demand to new levels that are unprecedented,” according to Velazquez. “Paired with retiring power plants and a backlog of new generation to be sited and interconnected, we’re at a pivotal juncture. We are seeing a delicate balancing act emerge as we move through this energy transition.”
To meet this insatiable demand for power, Velazquez pointed to the need for federal and state policy makers and the energy industry to focus their efforts on developing streamlined approaches for siting and permitting to bring new electric generation online, and for the buildout of new electric transmission infrastructure.
“While there are challenges, PECO plans to be part of the solution, and our laws and regulations need to provide more flexibility in procurement options that are financially sound,” Velazquez said. “We’re engaging with policymakers and colleagues in the industry to push an ‘all of the above’ commitment to building and preserving baseload electric generation capacity. Our core challenge is finding a mechanism for providing long-term financing for new power plants. We remain encouraged that our political leaders understand the urgency of this issue.”
Haque provided a comprehensive overview of PJM and its role as grid operator for the 13-state and Washington D.C. region they serve as well as their focus on reliability for their 65 million consumers. “At PJM, our core mission is to maintain the reliability and security of the bulk power system for those we serve. Today, we are seeing electricity demand increase substantially across the region, due largely to data center growth. At the same time, electricity supply is decreasing primarily based on state and federal decarbonization policies. Our goal is to help address these supply and demand challenges by working with all of our stakeholders on solutions that support reliability and affordability for consumers.”
“The SEI Energy Briefing provided a critical platform for stakeholders to hear from two of our region’s most knowledgeable leaders from the energy sector,” said CCEDC President and COO Michael Grigalonis. “Their perspectives on industry trends and the challenges presented by the steep rise in energy demand were informative and invaluable. It’s certainly something we’ll keep a close eye on in the months and years ahead.”
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.