Grid operator PJM Interconnection (PJM) announced this week that its president and CEO, Manu Asthana, has decided to step down from his role with PJM at the end of 2025. The PJM Board has formed a CEO Search Committee and has engaged Korn Ferry to assist with the search. The PJM Board intends to solicit input from PJM members and stakeholders as part of its search process, which is targeted to conclude later this year.

The announcement comes amid frustration over spiking capacity charges set to hit customers bills in June. The OMA has critiqued PJM’s delays to its capacity auction to procure new power generation, as timely auctions are critical to procure new plants to replace retiring power plants. The auction delays combined with questionable capacity market changes by PJM and PJM’s backlogged interconnection queue for new generation, rated among the nation’s worst, have all contributed to the increases. 4/15/2025