Biggest US Power Auction Set to Deepen Affordability Concerns

The outcome of what was, until recently, an obscure US power market auction will be the subject of intense interest this week for electric generators, regulators and consumers alike.

The results due late Wednesday will confirm what PJM Interconnection LLC — the nation’s largest grid operator, serving millions of Americans from Chicago to Washington, DC — will pay power generators to secure capacity starting in 2027. The bill is expected to reach $17 billion, according to a Bloomberg survey of grid experts, policymakers and traders. That would mark the third consecutive year of record-breaking costs, as the swift build-out of ...