PJM power prices jump 76% as watchdog blames data center demand

Wholesale power prices on PJM Interconnection, the largest U.S. electric grid, rose 76% from a year earlier as data center demand tightened capacity, independent monitor Monitoring Analytics said in a report published May 14, 2026. Prices for one megawatt-hour rose to $136.53 from $77.78 a year earlier. Monitoring Analytics said the price impact on customers has been “very large” and warned increases could worsen unless PJM addresses data center load growth. PJM’s territory includes Northern Virginia, a major data center hub. The monitor said PJM’s capacity supply is not adequate to meet large data center demand and faulted the grid operator for delays in software upgrades and lack of transparency. PJM paused applications for new generating sources in 2022 amid a backlog and recently resumed accepting requests. The report also criticized a PJM white paper on market reforms, saying the grid operator should focus on data center-driven demand rather than overhauling market design.