US Electricity Prices Set to Surge Amid Grid Strain

PJM Interconnection's latest auction signals a dramatic rise in power costs for millions due to plant retirements and increased demand.

Electricity prices on the largest US grid are projected to hit record highs next year.
PJM Interconnection's auction revealed a ninefold increase in payments to power generators.
Over 65 million Americans could see their electricity bills significantly rise.
Closures of coal and natural-gas plants are reducing supply, adding pressure on the grid.
Higher prices are expected to incentivize investment in maintaining and building new power resources.