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00:03PJM Interconnection's latest power auction tied a $16.4 billion record
00:08as data center demand increased supply costs for the largest U.S. electric grid
00:12by more than 60%, according to Bloomberg.
00:15Data centers accounted for about $6.3 billion of the auction total
00:19and nearly $30 billion across four auctions.
00:23The auction also fell 6.8 gigawatts short of PJM's reliability target for the third straight year.
00:30Capacity prices reached the $395 per megawatt day cap and will appear in monthly utility bills.
00:36Without the price cap, the auction would have cost ratepayers nearly $30 billion
00:40at $554 to $72 per megawatt day, with Chicago-area prices exceeding $735.
00:48PJM said the shortage could force the grid to operate with slimmer reserves and greater risk.
00:53The operator plans an emergency procurement process aimed at shifting more costs to data center companies.
00:58For all things money, visit Benzinga.com.
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