Datacenters slurping juice help drive 75% jump in PJM power prices

PJM Interconnection's capacity auction for 2029/30 saw power prices surge 75% year-over-year, driven largely by rising electricity demand from data centers. The auction cleared at $269.95 per megawatt-day, up from $153.71, reflecting grid reliability costs tied to surging load growth in the mid-Atlantic region.