Winter storm jolts U.S. power prices as lawmakers push Big Tech to pay for AI data center electricity
Wholesale electricity prices on the PJM Interconnection surged above $3,000 per megawatt hour Saturday as freezing weather strained the grid. PJM, serving 67 million people, forecast record winter demand and warned of possible outages. Dominion Energy cited severe ice risks in Virginia. The Department of Energy made over 35 gigawatts of backup generation available nationwide.