Rung 11 Energy & PowerSwitch rungClose
In scope: generation (nuclear, gas, renewables), PPAs and offtake, grid interconnect queues, power arbitrage, energy ownership as a moat, transformer and switchgear lead times, energy cost pass-through. Out: the buildings themselves (datacenters), the cost of a token (inference-economics).
| Type | Source | Published |
|---|---|---|
| REPORT | ERCOT Market Notice M-A080326-01 — Update Regarding Batch Zero Timelines and Processes ERCOT · Electric Reliability Council of Texas Governor Abbott directed ERCOT to verify data-centre Large Loads before interconnection; ERCOT missed the 2026-08-07 Batch Zero classification deadline and sought a PUCT good-cause exception (Planning Guide §5, §9) ahead of the 2026-08-20 open meeting. | 2026-08-03 |
| REPORT | EIA expects record electricity generation in 2026 and 2027 (September 2026 STEO) U.S. Energy Information Administration · EIA US generation 4,368 BkWh in 2026 (+2.2%) and +1.7% in 2027; sales 4,135 BkWh (2026) and 4,211 BkWh (2027). West South Central the largest regional contributor to sales growth from data centres — stated while acknowledging the Texas pause. BkWh only; no GW of data-centre load. | 2026-09-09 |
| REPORT | Queued Up: 2026 Edition — Characteristics of Power Plants Seeking Transmission Interconnection As of the End of 2025 Rand, Cheyette, Talley, Zhang, Gorman, Wiser, Seel, Jeong, Kahrl · Lawrence Berkeley National Laboratory (with GridTracker / Interconnection.fyi) End-2025 US queue: ~8,200 projects, 1,312 GW generation + ~749 GW storage; total down 10%, gas up 86% to 253 GW; median request-to-operation 61 months for 2025 builds (22 in 2008); 13% of 2000-2020 requested capacity built; 2% of the 2024 queue reached operation in 2025. Supply side only; large-load queues excluded. | 2026-06-01 |
| REPORT | PJM Capacity Auction Procures 138,318 MW of Generation Resources (2028/2029 Base Residual Auction) PJM Interconnection · PJM Interconnection 2028/29 capacity cleared at the $325/MW-day cap (third collared auction, second at the cap; -2.5% vs $333.44 for 2027/28), 6,831 MW short of the reliability requirement. Carries the superseded series $329.17 (2026/27, Talen 8-K) -> $333.44 (2027/28, ~5,100 MW of forecast growth from data centres) -> $325. The rung's first power price. | 2026-07-14 |
| ANALYSIS | U.S. AI Data Center Delays: 7 GW Capacity Crisis (2026) Tech Insider · Tech Insider 12 GW announced 2026 vs 5 GW under construction = 7 GW shortfall; AI DC load ~10 GW by end-2026; AEP queue 190 GW raw / 24 GW committed. | 2026-Q1 |