Exelon plans billions in regulated energy storage across New Jersey, Maryland, and…

Exelon plans to invest between $3 billion and $7 billion in regulated energy storage, ranging from 1.5 GW to 3.5 GW. This includes a $1 billion, 500-MW project in New Jersey, which is being developed with Invenergy. Exelon officials noted that New Jersey, Maryland, and Delaware allow utilities to own these storage facilities to bolster grid resiliency. The New Jersey Board of Public Utilities is expected to make a decision on the proposal late in the first quarter of next year.

The projects aim to address the slow pace of generation additions on the PJM Interconnection system. Customers would benefit from the projects through lower capacity prices and the flow-through of investment tax credits, which would ease the effect of assets on electricity rates. The Atlantic City Electric project, developed with Invenergy, is expected to provide more than $700 million in net benefits to customers.