NEW YORK: Power prices on the biggest US power grid are about to hit a record-high amid a wave of plant retirements and surging demand, thanks in part to new data centres being built.
Generators that provide electricity to the 13-state grid that stretches from New Jersey to Illinois will get a record US$269.92 per megawatt-day from utilities to provide capacity over a 12-month period which started in June, results of an auction by grid operator PJM Interconnection LLC disclosed.That’s more than a nine-fold increase from US$28.92 in last year’s auction.
