About 50% of the PJM 2025/26 capacity price increase from load growth, 50% from market design, retirements and supply constraints.

What this evidence bears on

• Supports: Data centers are only part of PJM's price rise. E3 estimates that about half of the 2025/26 capacity price increase came from load growth; the rest came from market design changes, plant retirements and supply constraints.

  • A reply in “Yes, cities should pause new large data centers until their costs are understood and covered.”