Power

Nord Pool day-ahead prices for October 30 averaged as low as 23.9 EUR/MWh in NO4 and as high as 268.6 EUR/MWh in DK2, with a 244.6 EUR/MWh spread and peaks above 300 EUR/MWh in several Danish and Swedish zones. Hourly results from the SDAC auction show strong regional divergence driven by transmission limits and local supply. The volatility highlights ongoing scarcity pricing pressures in parts of the Nordic-Baltic market. Read →

PJM Interconnection reported more than 61,000 MW of generation capacity offline last week during mild October weather, leaving only about 66% of its fleet available as it prepares for winter. Over two-thirds of the outages were planned maintenance or construction, with the rest unplanned. The advisory highlights risks for data center interconnections and reliable supply in the 13-state region. Read →

The California ISO board approved new procedures to connect large loads such as data centers more quickly and reliably while meeting FERC requirements. The plan includes flexible interim interconnections until network upgrades finish and improved coordination to avoid cost shifts. CAISO will file the proposal with FERC by November 16. Read →

SPP declared a Resource Advisory for its East Balancing Authority Area effective Thursday, October 29, from 12 p.m. to 6 p.m. CT due to higher-than-normal outages and load/VER forecast uncertainty. The advisory raises awareness for operators but does not require public conservation. It enables earlier unit commitments to support reliability. Read →

China’s National Development and Reform Commission and National Energy Administration approved formal operation of the southern regional power market covering Guangdong, Guangxi, Yunnan, Guizhou and Hainan. The market, with over 290,000 participants and daily volumes up to 4 TWh, aims to expand trading, integrate renewables and link with other regions. It marks a key step toward a unified national electricity market by 2030. Read →

Monitoring Analytics reported data-center load (existing plus forecast) drove $6.5 billion, or 40%, of the $16.4 billion in PJM’s December capacity auction costs for the 2027/28 delivery year. Across the last three auctions, data-center forecasts accounted for 45% of total capacity costs. The monitor called data-center load growth the primary driver of tight supply, shortfalls and high prices. Read →

ERCOT plans to finish auditing hundreds of data center proposals in the Batch Zero process by Dec. 10. The audit follows Gov. Abbott’s directive on the 474 GW large-load queue, 90% data centers. Completion is required before interconnections can resume and affects the grid’s upcoming load forecast. Read →

PJM delayed its reliability backstop procurement after FERC’s partial rejection of the data-center cost-allocation plan. The auction was set to start Sept. 30; FERC upheld a $555/MW-day cap but found cost allocation unjust and unreasonable. PJM will revise and resubmit. Read →

PJM’s market monitor attributed 40% of recent capacity auction revenues ($6.5B of $16.4B) to data-center load. ERCOT’s large-load queue grew 300% last year, mostly data centers. The monitor called load-forecast uncertainty unprecedented. Read →

Texas Gov. Greg Abbott ordered a pause on new data-center interconnections and an audit of the ERCOT queue totaling 474 GW, 90% data centers. ERCOT delayed its Batch Zero transmission planning study for the first projects under new large-load rules. BNEF warned the moratorium risks delaying nearly 50 GW of projects, potentially causing $8 billion in revenue losses by Q1 2027 if 60% are AI-related. Read →

Oncor executives discussed uncertainty for 44 GW of large-load projects in its territory qualifying for ERCOT’s Batch Zero process amid the state moratorium. The utility supports the pause for durable long-term outcomes. Sempra noted the broader ERCOT queue exceeds 400 GW of large loads alongside hundreds of GW of generation waiting to connect. Read →

PJM filed a one-time reliability backstop auction proposal at FERC to procure up to 6.8 GW of new capacity from Sept. 30 to Oct. 21, with a proposed $555/MW-day price cap. The shortfall stems from the last base residual auction and growing data-center demand projected to reach 70 GW by 2038. Costs would be allocated across zones and load-serving entities, with bilateral deals able to reduce the target. Read →

PJM’s board directed staff to launch a reliability backstop capacity procurement after the prior auction fell short of the 20% reserve margin by 6.6 GW amid record prices. The move forms part of a broader plan for fast-track large-load interconnections and bilateral deals with data centers. Analysts expect the temporary fix to expand and support additional gas-fired capacity. Read →

Modo Energy's Oct. 21 update shows 92 GW of data-center projects in advanced planning across ERCOT, heavily phased from Dallas-Fort Worth to West Texas and the I-35 corridor, with 11 GW operating/expanding, 12 GW under construction and 54 GW proposed. Microsoft’s Pecos agreement includes dedicated gas generation; Oncor’s Batch Zero submission alone carries $2B security. Large loads are expected to drive ERCOT prices from $36/MWh in 2027 toward a $150/MWh peak in the early 2030s. Read →

FERC found PJM’s tariff unjust and unreasonable for lacking clarity on co-located large loads and directed revisions for transmission service options. The order aims to speed AI-driven data center interconnections while protecting consumers and grid reliability across PJM’s 13-state footprint. PJM must also report by January 19, 2026, on expedited generation additions and backstop reforms. Read →

PJM delayed its planned reliability backstop procurement auction for 6.8 GW of new capacity after FERC’s partial approval and cost-allocation concerns. The auction targets a shortfall driven by data-center load growth; PJM had aimed to accept offers through Oct. 21. The delay follows FERC’s earlier rejection of key elements of PJM’s large-load interconnection proposals. Read →

Gov. Greg Abbott directed ERCOT and the PUC to audit 474 GW of interconnection requests, 90% data centers, before further approvals, citing risk to grid reliability. The queue exceeds five times ERCOT’s record peak load of 91,089 MW. ERCOT has delayed its Batch Zero large-load study process pending the audit and additional developer information on demand, water use, and impacts. Read →

FERC issued show-cause orders under Section 206 to PJM, MISO, SPP, CAISO, ISO-NE and NYISO directing each to justify current tariffs for data centers and other large loads or file reforms addressing interconnection, cost allocation, co-location and generation adequacy. The orders build on prior actions including PJM co-location rules and SPP's High Impact Large Load processes. This targets speed-to-power for AI and manufacturing while protecting ratepayers as large-load interconnection queues grow rapidly. Read →

Nord Pool's single European day-ahead auction for Oct 16 produced wide spreads, with SE1 at 15.9 EUR/MWh daily average and DK1 at 209.6 EUR/MWh; other zones included SE3 at 76 EUR/MWh and FI at 17 EUR/MWh. Prices reflect the SDAC auction results published via ENTSO-E Transparency Platform. No negative prices reported in the Nordic/Baltic zones for the day. Read →

Unseasonable warm weather across the Midwest and Mid-Atlantic hit PJM during fall maintenance, with 62,000 MW offline. Spot power at the Western hub reached $1,021/MWh Tuesday afternoon; Wednesday day-ahead averaged $295.83/MWh, up 28%. The DOE issued an emergency order for Oct 13-16 allowing extra backup generation and directing data centers/large loads to backup power if needed; PJM came within 900 MW of reserve margin with peak demand near 113 GW. Read →

PJM declared a Maximum Generation Alert and capacity advisory through Wednesday, recalling outages and urging plants online. The DOE emergency order lets PJM exceed environmental limits and redirect data centers to backup generation before rolling blackouts or export cuts. The grid expected to be within 900 MW of reserves amid high demand, maintenance, and exports serving 67 million people. Read →

The U.S. Department of Energy issued Order No. 202-26-50 on Oct. 12 authorizing PJM to direct backup generation at data centers and other large loads as a last resort before or during an EEA 3 through Oct. 16. PJM forecast demand around 111,500 MW or higher on Oct. 13 with roughly 61,591 MW of generation outages and reserve margin within 900 MW on Oct. 14 due to warm fall weather and planned maintenance. The order allows PJM to recall outages and tap backup resources to avoid firm load cuts across its 13-state footprint. Read →

PJM extended its Maximum Generation Alert and Load Management Alert through Oct. 14 and recalled maintenance outages after forecasting tight conditions from elevated demand, high planned generation outages of about 62,000 MW, and transmission constraints. The DOE emergency order specifically authorizes calling on data-center backup generation before declaring firm load interruption. No customer action is required from the alerts themselves. Read →

Texas Gov. Greg Abbott ordered an audit of all data centers in ERCOT’s interconnection queue, prompting ERCOT to delay its Batch Zero review process for large-load projects. The queue totals about 474 GW, with roughly 90% from data centers, more than five times ERCOT’s record peak demand. The pause affects nearly 50 GW of projects and may delay ERCOT’s long-term load forecast and reliability assessment. Read →

PJM declared a Maximum Generation Alert and Load Management Alert for October 13 due to unusually warm fall weather, planned maintenance outages (62,000 MW generation outages expected) and transmission constraints. Forecast peak demand reaches 112,447 MW on Tuesday with reserves as tight as 900 MW on some days. The grid operator also extended its Capacity Advisory through October 14 and recalled maintenance outages. Read →

FERC approved PJM’s proposal to create a database tracking data centers (50 MW+ loads) effective October 12 but rejected the grid operator’s plan for temporary curtailment of those loads during high-demand periods. PJM forecasts data-center demand tripling to 29 GW by 2030, which has already driven capacity prices up more than 1,000% since 2024 and created a 6.8 GW shortfall risk. Read →

DOE issued Order 202-26-50 under Federal Power Act Section 202(c) effective October 13-16, authorizing PJM to dispatch specified units and direct backup generation (including at data centers) as a last resort before or during an EEA-3 to maintain reliability. The order responds to PJM’s October 11 application citing forecast demand near 111,500 MW, heavy autumn outages and transmission constraints. Read →

EPEX SPOT day-ahead prices in France averaged €196/MWh on Monday, up 54% from Sunday, with a low of €149/MWh at 13:00 and peak near €280/MWh in evening hours. No negative prices occurred. France ranked fifth among tracked European zones, with Italy highest at €232/MWh and Spain lowest at €152/MWh. Read →

FERC issued show-cause orders under Section 206 of the Federal Power Act directing PJM, MISO, SPP, CAISO, ISO-NE and NYISO plus their transmission owners to justify or reform tariffs governing data-center and other large-load interconnections within 60 days. The orders target cost allocation, co-location with generation, flexible transmission service and speculative queue management to accelerate reliable integration while protecting ratepayers. The moves respond to the Secretary of Energy’s ANOPR and aim to deliver “speed to power” for AI-driven demand without shifting costs to existing customers. Read →

The Department of Energy filed a rare statement at FERC urging PJM to revise its reliability backstop procurement plan by Oct. 29 to prevent cost shifts from new data centers and large loads onto existing ratepayers. DOE said PJM should implement FERC-identified cost-allocation reforms and track whether projects enter service to assign generation costs to the responsible customers. The filing addresses PJM’s capacity shortfall driven by data-center forecasts after the grid operator failed to meet reserve margins in recent auctions. Read →

Texas Gov. Greg Abbott directed the TCEQ to halt data-center permits and ordered an ERCOT audit of the 474 GW large-load interconnection queue, of which 90% are data centers. ERCOT delayed its Batch Zero study and will require developers of 25 MW+ projects to provide details on power demand, water use, ownership and local impacts by mid-October, with the audit targeted for completion around Dec. 10. The pause addresses reliability risks from load growth exceeding five times the state’s record peak demand. Read →

Duke Energy reached a settlement with North Carolina Public Staff and tech firms including Amazon, Google, Meta and Microsoft. Large-load customers (50 MW+, 80% load factor) must make nonrefundable upfront payments for dedicated grid facilities like substations and deposits for shared upgrades, plus take service under a High Load Factor rate with minimum billing. The deal expands prior protections to insulate residential and small commercial customers from data-center-driven infrastructure costs in the state. Read →

ERCOT issued a request for information requiring data-center developers with 25 MW+ planned demand to disclose water use, power demand, tax incentives, and community impacts by Oct. 12. Individual project responses remain confidential as the grid operator and state continue audits under the ongoing permitting pause. The move adds transparency requirements while large-load interconnection reviews proceed amid Texas' 474 GW data-center queue. Read →

PJM postponed its planned one-time reliability backstop procurement auction for 6.8 GW of new capacity after FERC only partly approved the filing and suspended it for further review on cost allocation. The auction aimed to address a shortfall largely driven by data-center load growth forecasts. FERC Chairman Laura Swett called the proposal deeply flawed and said the commission would not accept an eleventh-hour mechanism with billion-dollar consumer implications. Read →

ERCOT said it aims to finish auditing hundreds of data-center interconnection proposals by Dec. 10 to allow its Batch Zero study process to resume. The audit follows Gov. Greg Abbott’s directive amid a pause on new large-load interconnections driven by a 474 GW queue, roughly 90% data centers. The delay affects the grid operator’s long-term load forecast and reliability assessments. Read →

PJM Interconnection suspended its planned one-time reliability backstop procurement auction hours before it was set to open. The move follows a FERC order that accepted core elements of the plan but suspended it for five months over unresolved cost-allocation, collateral and exit-rule issues tied to serving surging data-center demand. The action leaves a 6.8 GW capacity shortfall for the 2028/29 delivery year unaddressed in the near term. Read →

France’s EPEX day-ahead average settled at 170 €/MWh on Oct 5, up 1.4% from Sunday, with a low of 58 €/MWh at 14:00 and a peak of 260 €/MWh at 19:00. No negative prices occurred. The wide intraday spread reflects typical evening demand patterns in the coupled European market. Read →