Senator John Burzichelli, a member of the Senate Select Committee reviewing the spike in utility rates, issued the following statement on the announced resignation of Manu Asthana, the CEO of PJM Interconnection, the regional power grid that determines utility rates for New Jersey and other states:

“The departure of PJM’s President is an opportunity for the organization that determines our utility rates to reform its practices to prevent the spikes in electric bills that have been imposed on New Jersey ratepayers. Hopefully, this signals a change in priorities that will make consumer affordability the principal goal. As the disastrous results of the latest energy auction show, the current system is broken. I urge PJM officials to start immediately focusing on consumer-friendly reforms.

“I wish the departing President well. Perhaps he could do ratepayers a favor and take PJM’s auction results with him so they can start over.”