Filed under capacity-markets.

The Auction That Did Not Run

FERC's suspension of PJM's Reliability Backstop Procurement on 29 September 2026 left funded, construction-ready datacenter projects without a capacity price or delivery timeline. The mechanism was designed to separate genuine demand from speculative filings — it did not run. A facilities director with signed contracts, active interconnection rights, and steel already rising now waits in the same indefinite queue as a letter of intent with no site and no tenant.