Governor Josh Shapiro reached an agreement with PJM on a plan to save consumers over $21 billion more than the next two years.

Pennsylvania Gov. Josh Shapiro on Tuesday announced he's reached agreement with the regional grid operator PJM Interconnection that he said will blunt the expected sharp rise in the cost of electricity later this year.

The organization that oversees the region’s electrical grid has agreed to a new cap on certain power price hikes, following a threat from Pennsylvania Gov. Josh Shapiro to consider pulling out of the system.

Pennsylvania and the region’s electrical grid operator PJM Interconnection have reached an agreement that Gov. Josh Shapiro’s office said Tuesday will protect consumers against steep increases in their power bills.