Explainer · AI & technology

Is AI pushing up your power bill? Data centres, America's biggest grid and who pays

10 Nov 2026 · EN

On PJM, America's biggest power grid, the total wholesale cost of power was about $112 per MWh in January–September 2026, up from about $79 in the same months of 2025 (+41%). The grid's independent market monitor estimates that data-centre demand added about $10 of that, through the capacity market only. How big a part data centres play in rising power costs is disputed.

Key points

  • The International Energy Agency says data centres used about 415 TWh in 2024, around 1.5% of the world's electricity; their use rose about 17% in 2025, and its 2025 projection is around 945 TWh by 2030, slightly more than Japan uses today.
  • In PJM, most of this year's rise (about $22 of $32 per MWh) came from energy prices; capacity payments, which keep plants ready for peak demand, added about $9 and transmission under $1 (Jan–Sep 2026 vs 2025).
  • The market monitor says the total would have been about $102 per MWh without data-centre load in the capacity market; its figure leaves out any effect on energy prices or power lines.
  • PJM said in December 2025 that data centres' demand 'continues to far outstrip new supply'; the ITIF think tank argues data centres are 'near the bottom of the list' of price drivers, pointing to fuel costs and utility spending. Our reading: both can be true.
  • Who pays is the open question: Microsoft signed a 20-year deal for power from a Three Mile Island reactor its owner plans to restart, and the monitor recommends that large data centres be required to bring their own new generation.

Sources

Educational · Not financial advice Made with AI tools (AI voices and visuals), checked by a person

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