economy
AI continues to pressure power prices
Largest U.S. grid operator hits power price limit at an auction.
TL;DR
- AI demand is increasing power bills for 67 million Americans served by PJM Interconnection.
- New York imposed the first statewide moratorium on large-scale data center construction due to concerns about rising utility rates.
- The price generators charge PJM for power readiness reached $325 per megawatt-day.
- Data centers are estimated to have contributed about $6.3 billion to the total $16.4 billion cost for ratepayers.
- Price caps, implemented after a lawsuit by Pennsylvania's governor, prevented the cost from reaching $554.72 per megawatt-day.