Trump To Push Plan For Tech Companies To Fund New Power Plants
The Trump administration is planning to propose that the nation’s largest power grid operator hold an emergency auction in which tech companies would bid to have new power plants built, according to people familiar with the matter.
The directive, expected Friday, would be an unprecedented attempt by the federal government to check rising electricity prices within PJM Interconnection, a 13-state power market spanning from New Jersey to Kentucky. The build-out of data centers there in response to the artificial-intelligence boom is straining the grid’s capacity and has resulted in substantially higher costs in several of the grid operator’s recent power auctions.
The emergency auction would allow tech companies to bid on 15-year contracts for new power plants in deals that would be worth billions of dollars, some of the people said. Bloomberg previously reported on the plans for the auction.
PJM, home to the largest concentration of data centers in the U.S., has come under strain in recent years as tech companies seek to connect even more of them to the grid. Power plants there have been going out of service faster than they can be replaced, which has put a squeeze on power supplies as more electricity-hungry facilities come online.
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