Story perspectives

PJM Auction Hits $16.4 B Record Amid Tariffs, Moratorium

7/21/2026

Summary

Story summary

The PJM Interconnection capacity auction reached a record $16.4 billion price for 2028-2029 delivery.
Import tariffs on transformers and electrical steel raised equipment costs, while a 15 percent duty on certain grid components remains.
Governor Kathy Hochul imposed a data-center moratorium that added $6 billion to PJM’s auction costs.
The administration halted offshore wind leasing and reimbursed TotalEnergies nearly $1 billion for cancelled projects in New York and North Carolina.

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Story summary

The PJM Interconnection capacity auction reached a record $16.4 billion price for 2028-2029 delivery.
Import tariffs on transformers and electrical steel raised equipment costs, while a 15 percent duty on certain grid components remains.
Governor Kathy Hochul imposed a data-center moratorium that added $6 billion to PJM’s auction costs.
The administration halted offshore wind leasing and reimbursed TotalEnergies nearly $1 billion for cancelled projects in New York and North Carolina.