The U.S. federal government and several Northeastern states are urging PJM Interconnection, the country’s largest regional power grid operator, to hold an emergency electricity auction aimed at making major tech companies cover soaring energy costs, according to reports.
Under the auction, tech firms will be able to bid on 15-year power contracts for new power plants. While electricity auctions are standard practice, they typically cover only one-year supply. The auction is unusual in that participation is limited to tech companies building artificial intelligence data centers.
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