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Major US power operator says AI and data center demands are pushing prices up
Some parts of PJM Interconnection's power grid are expected to use up so much electricity that people's bills for the summer are projected to be 20 percent higher than before for the territory it covers, according to Reuters.
"Prices will remain high as long as demand growth is outstripping supply — this is a basic economic policy," PJM spokesperson Jeffrey Shields told Reuters. PJM decided to stop accepting new applications for power plant connections in 2022 since it still has 2,000 requests from renewable sources to process. PJM has capped its prices for now and has fast-tracked the connection of 51 power plants to its grid, but a lot of those aren't slated to come online until 2030.
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