Trump to direct PJM grid operator to hold emergency power auction

The administration and governors will urge PJM Interconnection to run a reliability auction offering 15-year contracts to tech companies and hyperscalers, and a White House official said those contracts could support about $15 billion of new power plants.

President Trump plans to direct the administration and state governors to urge PJM Interconnection LLC to hold an emergency reliability power auction. The auction would invite technology companies and hyperscalers to bid for 15-year contracts to build new electricity generation. A White House official speaking on condition of anonymity said the contracts could support roughly $15 billion of new power plants. The proposal is being discussed for regions served by PJM. Key details: - The administration and governors will urge PJM Interconnection LLC to hold a reliability power auction. - The auction would allow technology companies and hyperscalers to bid for 15-year contracts for new electricity generation. - Contract terms discussed are 15 years in length. - A White House official speaking on condition of anonymity said the contracts could support about $15 billion of new power plants. - PJM's decision on whether to proceed with the auction is pending. Summary: The proposal would create multi-year contracts that could enable significant new generation capacity and involve major technology-sector bidders. PJM's choice to hold the auction and the details of any final plan are undetermined at this time.