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PJM Auction Hits $16.4 B, Falls 6.8 GW Short

7/16/2026

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Summary

Story summary

PJM Interconnection held its 2028-2029 auction on July 15, 2026, capping prices at $325/MW-day and raising $16.4 billion in charges.
The auction fell 6.8 GW short of the 20 % reserve-margin target, clearing only about 525 MW of new resources, including 208 MW of uprates.
Data centers contributed roughly $6.3 billion of the charges, pushing a 10-MW industrial customer's fee from $6,000 in 2024 to $70,000 in 2028.

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Story summary

PJM Interconnection held its 2028-2029 auction on July 15, 2026, capping prices at $325/MW-day and raising $16.4 billion in charges.
The auction fell 6.8 GW short of the 20 % reserve-margin target, clearing only about 525 MW of new resources, including 208 MW of uprates.
Data centers contributed roughly $6.3 billion of the charges, pushing a 10-MW industrial customer's fee from $6,000 in 2024 to $70,000 in 2028.