TotalEnergies Becomes Member of PJM Interconnection, Boosting U.S. Energy Market Participation

TotalEnergies Joins PJM Interconnection: A Major Step for U.S. Energy Markets

TotalEnergies has recently announced its accession to PJM Interconnection, a pivotal organization managing the largest electricity transmission grid in North America. With this membership, TotalEnergies' trading arm in the United States can now engage in both physical and financial transactions, tapping into a market that caters to approximately 65 million end-users across the northeastern and mid-Atlantic regions. This strategic move is designed to boost TotalEnergies' presence and operations in the United States, championing their integrated energy model which has been active in the U.S. since 1957.

Expanding Market Access

PJM Interconnection oversees an extensive network covering 13 states and boasts real-time and day-ahead energy markets essential for modern energy trading. By joining PJM, TotalEnergies gains access to advanced market tools and invaluable data, empowering their Houston-based power trading hub to better serve customers and optimize their energy portfolio effectively. This initiative not only enhances TotalEnergies' competitive edge but also contributes to a more interconnected and efficient energy market in the region.

A Commitment to Sustainable Energy

TotalEnergies has made significant investments in the U.S. market, amounting to nearly $11 billion over the past three years. This investment focuses on developing oil, liquefied natural gas (LNG), and low-carbon electricity. As a leading exporter of LNG, the company is well-integrated throughout the LNG value chain, featuring upstream gas production assets located in Texas and offshore United States territories. The firm is also actively implementing its Integrated Power strategy, which encompasses 10 gigawatts (GW) of onshore utility-scale solar, wind, and battery storage facilities now established or under construction across the country.

Strengthening Financial Position

Recognized for its strong financial foundation, TotalEnergies Holdings USA has recently received an 'A+' issuer credit rating with a stable outlook from S&P Global Ratings. This designation reflects the solid economic standing of the subsidiary, providing a robust framework for further expansion and investment in the U.S. market. As TotalEnergies continues to grow its operations, the company remains steadfast in ensuring that sustainability is paramount in its strategy, projects, and daily operations.

A Global Perspective

With a presence in around 120 countries and a workforce of over 100,000 employees, TotalEnergies is committed to delivering energy that is not only reliable but also affordable and sustainable. The company works towards including low-carbon technologies in its operations and projects, aligning its business practices with global sustainability goals.

As TotalEnergies embarks on this new journey within PJM Interconnection, it illustrates a commitment to enhancing its role in the U.S. energy market while championing advancements in sustainable energy practices. This membership signifies a crucial step forward in not only the company's strategic objectives but also in contributing to the broader energy landscape in North America, setting a benchmark for others within the industry.