Power prices are up 76% on America’s biggest grid, and a watchdog is pointing fingers

Wholesale power prices on PJM jumped 76% year over year, from $77.78 to $136.53 per megawatt-hour.

Market monitor Monitoring Analytics blamed surging data center demand, especially in Northern Virginia, for much of the spike.

The report also faulted PJM for reacting slowly, including pausing new generation applications and delaying software upgrades.

The surge highlights pressure from the AI and data center boom on the U.S. grid and could mean higher costs for customers.