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The head of the regional grid operator that serves the Garden State will leave his post.

PJM Interconnection announced April 14 that President and CEO Manu Asthana will step down at the end of 2025. After, he will then serve as a senior advisor to the PJM board through June 2026.

The announcement comes amid a turbulent time in the energy space – while stakeholders navigate a number of variables and challenges as demand continues to rise. PJM serves some 67 million people in New Jersey, Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and Washington, D.C.

The grid operator has found itself in the middle of one of the top political hot-button issues of the year – the rising electric bills faced by New Jersey customers. NJBIZ has extensively covered that issue, and will dive further into it in the upcoming April 21 issue’s Energy Spotlight section. A PJM representative recently participated in a joint committee hearing in Trenton to discuss the rising costs.

In a press release, PJM board Chair Mark Takahashi expressed gratitude for Asthana’s strong leadership during a time of tremendous change in the electricity industry.

“Under his leadership, PJM successfully navigated the COVID-19 pandemic, significant market reforms, interconnection process enhancements, the buildout of a robust risk management function, and the delivery of world-class grid reliability through a variety of extreme weather events,” said Takahashi.

Takahashi lauded Asthana for being a strong advocate for grid reliability needs – helping to shape the national conversation around the importance of finding ways to reliably serve rapidly expanding electricity demand.

Making the transition

Asthana described his five-plus years at the helm of PJM as some of the most fulfilling of his career.

“I am especially appreciative of the opportunity to have led PJM’s remarkably talented, diligent and committed people, who work hard every day to keep the power flowing for 67 million people,” he said. “The time has now come for my wife and me to move back to be closer to our family and friends in Texas.”

The PJM board formed a CEO Search Committee, tapping Korn Ferry to assist with the search. The process, which is targeted to conclude later this year, will include soliciting input from PJM members and stakeholders.

“Manu and the Board have worked together to develop PJM’s internal succession pipeline,” said Takahashi. “We have a strong Executive Team, including internal succession candidates. We will also consider external candidates for this role.”

Asthana added, “I look forward to continuing to lead the organization through the end of the year and to helping facilitate an orderly transition to my successor.”

‘An opportunity’

State Sen. John Burzichelli, D-3rd District, a member of the Senate Select Committee reviewing the jump in utility prices, released a statement in response to the announcement.

“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,” Burzichelli continued. “Perhaps he could do ratepayers a favor and take PJM’s auction results with him so they can start over.”

Editor’s note: This story was updated at 3:01 p.m. EST April 15, 2025, to include a statement from Sen. John Burzichelli.