In its latest capacity auction, PJM reached a new record by hitting the price cap set by regulators.
PJM was able to secure 146.2 GW of capacity in the 2026 and 2027 auction, at a maximum allowable price set by FERC. Rate transmission prices also maxed out, hitting the $329.17 per MW-day limit. This is a huge 21% leap from the previous auction.
PJM provides power across 13 states and the District of Columbia, bringing electricity to 67 million people.
It’s the largest grid in the country and has been struggling in recent years to meet growing demand. PJM is home to the world’s largest data center market in Virginia. Growing demand growth from AI and other industries is causing immense strain on the grid.
