Data centers drive 76% surge in PJM power prices

Wholesale power prices in PJM Interconnection, the largest US grid market serving 67 million people across 13 states, surged nearly 76% in the first quarter of 2026 year-over-year, driven mainly by AI data center demand. PJM's independent market monitor warned the price impacts on customers 'are not reversible' and urged requiring data centers to secure their own generation. Regional governors and utilities have pressed PJM to address the supply-demand imbalance before shortages hit.