Essays··7 min read
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.
pjmenergy-policydatacenter-infrastructurecapacity-markets
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