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Power Watch

Power Watch: learn the grid constraints behind AI compute

Track the grid and power constraints shaping AI compute capacity.

Power Watch tracks the regional power constraints that can delay data-center buildout, limit usable GPU capacity, or raise compute costs.

Regions

Regional Heat Map

Directional editorial estimates of AI data-center power constraints, as of Oct 5, 2026. Higher means more constrained; scores are not real-time prices or guarantees of grid access.

RegionStatusScoreTrendConfidenceMain ConstraintAI Compute ImpactSource
PJMSevere90 / 100TighteningHighThe 2028/2029 auction cleared at its $325/MW-day cap with a 6,831 MW reliability shortfall. FERC accepted the backstop proposal but suspended effectiveness until February 28, 2027, subject to further proceedings; PJM did not launch the previously planned September 30 procurement.PJM now combines scarce capacity with operating requirements for computational loads. New and existing AI campuses should budget for higher capacity costs, possible curtailment exposure, and electrical-control or backup-power changes needed to remain connected through normal voltage and frequency disturbances.PJM Inside Lines — Reliability Backstop Decision
ERCOTSevere95 / 100TighteningHighTexas halted TCEQ data-center permits on September 21 pending the ERCOT audit, adding permitting to the existing interconnection gate. The August audit directive cited more than 474 GW of requests, about 90% from data centers; requested load is not commissioned capacity.The audit makes compliance, self-supply, water use, and community-impact disclosure immediate gates to energization. Texas remains a major build market, but projects cannot treat an ERCOT queue position as a dependable schedule until the audit clears them.Office of the Texas Governor — Data Center Permit Halt
SoutheastElevated65 / 100TighteningMediumGeorgia approved 9,985 MW of new generation in December 2025, with roughly 80% of expected growth attributed to data centers. Forecast uncertainty and the cost of serving committed loads remain the constraints; approved generation is not commissioned data-center supply.Heavy utility commitments and new gas-plus-storage, but contested load forecasts and rate/tariff decisions add cost and approval risk.Georgia PSC — Data Center Fact Sheet
MISOModerate55 / 100EasingMediumThe 2026/27 auction met adequacy requirements in every season. Summer North/Central capacity cleared at $424.30/MW-day; fall cleared at $33.92/MW-day. These seasonal auction prices are distinct from retail energy rates and do not guarantee large-load interconnection.More near-term headroom than PJM or ERCOT, but interconnection timelines lengthen as large-load requests grow.MISO — 2026/27 Planning Resource Auction
CAISOModerate50 / 100StableMediumCalifornia’s May assessment found the grid well positioned for summer 2026 after adding more than 6 GW of nameplate resources in each of the preceding two years. That historical assessment does not establish current campus access; large-load cost allocation remains a watch item.Lower AI-campus pressure than PJM or ERCOT; high prices and interconnection-policy uncertainty are the watch items.California Energy Commission
SPPWatch45 / 100TighteningMediumSPP proposes CHILL conditional service and HILLGA generation assessment to speed large-load studies. Its published target is a path to interconnection agreements within 90 days, with possible curtailment under CHILL; this is not a guarantee of energized firm service.Faster studies may shorten an access decision, but proposed tariff status, curtailment exposure, network upgrades, and energization remain separate deployment risks.SPP — High Impact Large Load Integration
Pacific NorthwestModerate50 / 100StableMediumNorthwest planners put new data-center and chip-fab growth at roughly 1.5–5.0 average GW by 2030; BPA's 2026 study still flags hydro, transmission, and peak-capacity uncertainty as Provider of Choice obligations are finalized.Low-cost hydro remains attractive, but transmission availability, hydro variability, and the need for flexible large-load designs limit how quickly firm new compute load can energize.BPA — 2026 Loads & Resources Study (White Book)
NationalElevated75 / 100TighteningMediumAI data-center load growth is outpacing grid planning in the highest-demand regions (PJM, ERCOT, Southeast).Power remains a binding medium-term constraint on GPU cloud capacity, concentrated in the Eastern Interconnection.Load-weighted composite

Deals

Power Deal Tracker

Large power agreements and utility arrangements tied to AI data-center capacity.

Buyer / OperatorPower TypeRegionSizeStatusExpected TimingImpactConfidence
Hyperscaler / AI cloudNuclear / PPANot disclosedNot disclosedAnnouncedNot disclosedLong-term capacity supportMedium
Data-center operatorGrid interconnectionPJMNot disclosedPendingNot disclosedEnergization riskMedium
AI infrastructure providerGas / behind-the-meterERCOTNot disclosedProposedNot disclosedPotential capacity unlockMedium
Utility / data-center customerTariff / rate caseSoutheastNot disclosedWatchNot disclosedCost and approval signalMedium

Queue

Data-Center Power Queue

Major AI data-center projects and their power-access risk.

Project / AreaOperatorRegionEstimated MWUtility / GridStatusPower RiskTimelineConfidence
Northern Virginia clusterMultiplePJMNot disclosedDominion / PJMActiveHighOngoingMedium
Texas AI campus pipelineMultipleERCOTNot disclosedERCOT utilitiesExpandingMedium / HighOngoingMedium
Southeast data-center growthMultipleSoutheastNot disclosedRegional utilitiesRisingMediumOngoingMedium
Pacific Northwest AI sitesMultiplePNWNot disclosedRegional utilitiesWatchLow / MediumOngoingMedium

Signals

Top Power Signals

The latest source-backed power items most relevant to compute capacity.

Nov 3, 2026

Lambda signs the White House Ratepayer Protection Pledge, reinforcing commitment to community benefits and grid reliability

Signal: Lambda signs the White House Ratepayer Protection Pledge, reinforcing commitment to community benefits and grid reliability. Impact: Market effect uncertain. The source for “Lambda signs the White House Ratepayer Protection Pledge, reinforcing commitment to community benefits and grid reliability” does not yet establish a supported change in compute supply, demand, price, availability, power delivery, financing, or deployment timing. Affected market area: Cost and Availability.

Nov 2, 2026

Mitsubishi Electric seeks to expand North American grid foothold

Signal: In August, the Japanese conglomerate said it would spend $1.4 billion to buy PCI Energy Solutions, whose platform manages about 60% of U.S. power generation. Impact: Market effect uncertain. The source for “Mitsubishi Electric seeks to expand North American grid foothold” does not yet establish a supported change in compute supply, demand, price, availability, power delivery, financing, or deployment timing. Affected market area: Cost and Capacity timing.

Jun 9, 2026

FirstEnergy asks FERC to require data centers to pay for transmission interconnection costs

Signal: FirstEnergy's proposal adopts a cost allocation practice from the gas pipeline sector. It comes ahead of the Federal Energy Regulatory Commission's expected large load… Impact: Upward pressure on compute costs. The grid-market change described in “FirstEnergy asks FERC to require data centers to pay for transmission interconnection costs” can raise the power component of compute costs before it changes physical GPU supply. Affected market area: Cost and Capacity timing.