PJM Interconnection’s 2026/2027 Base Residual Auction has secured a total of 146.24 GW of capacity. This included 134.31 GW from the auction and 11.93 GW from fixed resource requirements to meet electricity demand across 13 states and D.C. Prices cleared at the FERC-approved cap of $329.17/MW-day, with modest year-over-year cost increases expected for most regions and decreases in some zones. The auction marked the first increase in new generation and uprates in four years, while 17 units withdrew previously planned retirements. Despite these gains, supply barely exceeded demand by 14 MW, reflecting a tightening grid as peak load forecasts rose by 5.4 GW due to data center growth and electrification.