PJM power prices surge 76% on soaring data center demand
- Source
- Bloomberg
- Time
- 2:05 AM
- Weight
- 95/100
Wholesale power prices on PJM Interconnection, the largest electric grid in the United States, rose by 76% during the first quarter of 2026. According to a report by the grid’s independent market monitor, Monitoring Analytics, costs averaged $136.53 per megawatt-hour, a significant increase from the $77.78 recorded during the same period the previous year.
The sharp rise in electricity costs is primarily attributed to the rapid expansion of data centers and the infrastructure required to support artificial intelligence. This surge in demand across the 13-state grid has placed notable pressure on the system, increasing the financial burden on consumers and highlighting the challenges of managing power loads amid the ongoing tech buildout.