The cost of providing electricity in America’s largest power market will hit a record high due to soaring demand from artificial intelligence data centres and delays in building new power plants, raising energy prices for consumers.
Grid operator PJM, which covers 13 states and Washington DC, said on Tuesday it procured energy supplies for $329.17 per megawatt day, a 22 per cent increase compared with the previous year. The organisation will pay power producers $16.1bn to meet its energy needs from June 2026 to May 2027, a 10 per cent increase compared with the previous year.
The operator said it expects a 1-5 per cent rise for customers in their energy bills, depending on how utilities and states passed on costs.
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