FERC REJECTS PJM'S DATA CENTER FAST-TRACK PLAN

FERC on October 9 rejected the core of PJM's Interim Resource Adequacy Service plan, which would have let new data centers connect to the grid before matching generation capacity existed, in exchange for being curtailed first during emergencies. The commission kept only two pieces: PJM's 50 MW threshold for defining a "large load" and a registry tracking each facility's location and capacity needs. FERC said curtailing retail customers is a state matter, not something PJM can decide through its tariff. Equity analysts flagged Constellation, NRG, Talen and Vistra ($VST) as the winners, since new data centers can no longer jump the queue ahead of existing generation.