Topic hub
This hub links power-market structure to AI load growth. It starts with capacity prices, then moves to cost allocation, and ends with the off-grid power stack that is emerging around hyperscale demand.
Core articles
The grid is no longer just delivering power. It has to pre-commit firm supply years ahead while AI load keeps compounding.
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AI electricity demand power markets 2026
Spot prices tell you what electricity costs now. Capacity prices tell you what it costs to guarantee it will still be there when the grid is stressed.
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PJM capacity market explained
The question is no longer just how much firm capacity PJM needs. It is whether the new load that creates the need should pay for it directly.
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PJM capacity prices data centres electricity 2026
Chevron is building a dedicated gas plant for a Microsoft data centre in Texas. Amazon secured 1.5 GW of dedicated solar. Roughly 30% of all planned data centre capacity is now expected to be on-site. The regulated grid is being bypassed at scale.
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AI data centre shadow grid dedicated power infrastructure
With U.S. gas prices above $4 and crude back above $100, the market is treating energy as a regime variable again - not a sector detail.
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oil supply shock portfolio analysis 2026