PJM’s capacity auction cleared at $325 per MW-day, down 2.5 percent, ending a three-auction record streak. The reliability shortfall widened anyway. What the new Large Load Registry and curtailment rules mean for NOI.
PJM's capacity auction fell 6,831 MW short of its reliability target. New large-load rules and a backstop procurement move power risk into underwriting.
PJM asked federal regulators on August 17, 2026 to require new data centers to secure their own generation or be curtailed first during shortages. What the filing signals for building owners.
PJM forecast a record 166,304 MW as DOE emergency orders authorized data center curtailment. What the first federal large-load curtailment precedent means for NOI, leases, and site underwriting.
As PJM members vote on Reliability Backstop Procurement and Connect and Manage, the real question is who funds the power systems behind AI growth. An interview with NRDC and a commercial real estate read on the cost-allocation fight.
The NextEra‑Dominion Merger shifts real pricing power to equipment access. With multi‑year transformer lead times and PJM capacity caps expiring, behind‑the‑meter strategy becomes an economic necessity, and what owners should model now.