PJM Interconnection Plans Auction to Address Capacity Shortage The PJM Interconnection has submitted a plan to the Federal Energy Regulatory Commission for a one-time reliability backstop auction scheduled from September 30 through October 21. The auction aims to address a deficiency of 6.8 gigawatts in capacity identified during the grid operator’s recent base capacity auction,

PJM Capacity Auction Reaches Price Cap Amidst Shortfall The PJM Interconnection, the largest grid operator in the nation, has reached its price cap during last week’s Base Residual Auction for 2028-2029. The auction secures capacity resources, and this year's results reveal a shortfall of over 6.8 gigawatts (GW). This marks the second consecutive year PJM

A state legal action aimed at capping power auction prices resulted in consumer savings of $13.3 billion during a recent auction, according to officials. The Pennsylvania budget left unresolved issues regarding the regulation of artificial intelligence data centers but advanced transmission line technology and achieved modest progress on other energy matters. The Chesapeake Bay Foundation

PJM Capacity Auction Results Reveal Rising Electric Costs, Data Center Impact Wholesale power costs in the PJM market are projected to continue increasing following the results of that grid manager’s electric capacity auction. PJM announced it will pay electricity generators approximately $16.4 billion over a 12-month period beginning June 1, 2028. An estimated $6.3 billion

PJM Capacity Auction Reaches Price Cap Again The PJM Interconnection’s latest power auction resulted in the federally mandated price cap being triggered once more. In the 2028/2029 Base Residual Auction, held this week, the grid operator cleared at $325 per megawatt-day for its entire service area. This ceiling was established by governors of all 13

Rising electricity demands from data centers are projected to elevate costs for consumers throughout the PJM Interconnection region following recent power auctions. The PJM Interconnection, responsible for managing the electrical grid spanning thirteen states, released auction results covering the period of June 2028 through May 2029. An independent market monitor for PJM, Monitoring Analytics, determined

Power Auction Price Soars to Record $17 Billion A forthcoming power auction is expected to cost a record $17 billion, primarily driven by the rapid expansion of the data center industry and its substantial electricity requirements. PJM Interconnection, the grid operator serving millions across the region from Chicago to Washington D.C., is conducting the auction

Allentown-based PPL Corp. has voiced its support for a collaborative effort, spearheaded by President Trump and several governors, including Pennsylvania’s Josh Shapiro, to address escalating electricity costs in the mid-Atlantic region. These rising costs are partially attributed to the increasing energy demands of data centers. PPL’s President and CEO, Vincent Sorgi, expressed gratitude for the

PJM Interconnection is implementing a temporary “backstop auction” to bolster power supply and address concerns about grid reliability and capacity shortages, particularly driven by the rapid expansion of data centers. This action, taken by PJM’s board, follows considerable pressure from the Trump administration and state governors within the PJM-served region, who had urged for an

The US government is urging PJM Interconnection, the operator of a major electric grid, to take swift action to bolster power supplies and mitigate rising electricity costs, driven by concerns about America's competitiveness in artificial intelligence and potential blackouts. A key proposal involves a power auction for 15-year contracts to construct new power plants, while data centers would be financially responsible for contributing to new infrastructure, with calls also made to extend a cap on wholesale electricity payments to maintain consumer price stability. The White House and governors from several states have expressed frustration with PJM's response, prompting the company to release its own plan that could prioritize grid stability by curtailing power to major consumers during emergencies.

A collaborative effort between the Trump administration and northeastern governors is pushing PJM, the operator of the largest US electrical grid, to conduct a power auction aimed at addressing escalating electricity costs driven by the rapid expansion of data centers operated by technology companies, which are putting significant strain on the system and increasing energy bills for consumers in states like Virginia and New Jersey.

A growing phenomenon in the US is the significant impact of rapidly expanding data centers on local electricity costs, particularly affecting nearly one-fifth of Americans across the Midwest and mid-Atlantic regions. According to recent data and analyses by PJM Interconnection LLC, data centers are a major driver of power-supply expenses, accounting for 45% of total costs at a recent power auction, resulting in substantial increases of $7.3 billion and $16.1 billion in overall power-supply cost increases from previous auctions.

SAO PAULO (Reuters) - Brazil’s government has cancelled a June 27 auction to secure long-term power capacity, a publication in the official gazette showed on Friday. The mines and energy ministry did not immediately provide reasons for the cancellation. Interested parties had already launched court challenges to the auction rules and a federal judge this week ruled that a new public consultation had to be carried out before the auction could proceed. The June auction would have been the second of its kind held by Brazil and aimed to secure complementary power capacity, particularly during peak afternoon hours. The government in January loosened rules for the auction in a move that was seen as positive for Eneva. Which stock should you buy in your very next trade? With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.