Wire · operational-macro
PJM Data Center-Driven Power Auction Prices Limited By $325/MW-Day Cap
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Fusion42 · 16 July 2026 · Fusion42 review
PJM's July 2026 capacity auction procured 136,318 MW of generation at a $325/MW-day price cap, falling 6,831 MW short of the reliability standard; uncapped prices would have reached $554.72/MW-day (Pennsylvania) to $775+/MW-day (Illinois ComEd region), driven by data centre load growth outpacing new supply.
This Wire brief sits within Fusion42's coverage of Data Infrastructure, Cloud Infrastructure and Energy Storage.
◆ ◆ The Wire takeaway
If you're building a data centre east of the Rockies, the grid can't physically deliver the power you want - and the price cap masking true scarcity means you'll negotiate supply deals, not just buy from the market. The real cost of your electricity just became a site-selection problem, not a commodity one.
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1 source · 15 Jul 2026
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