The N.J. Board of Public Utilities approved a settlement June 18 with PJM, the regional transmission organization that coordinates the movement of New Jersey’s electricity needs, that temporarily sets a price floor for capacity auction delivery costs for the next three years.

“I am hoping we will get back to pure supply and demand some point where we don’t have to intervene,” NJBPU Commissioner Zenon Christodoulou said. “I think that’s where the market needs to be.”