Power Debrief: Connect & Manage or 'Check & Mate' on Existing Asset Deals?

研报英文原文证据摘录

Power Debrief: Connect & Manage or 'Check & Mate' on Existing Asset Deals?

on is positive, but does not provide a solution unless projects under construction generation/capacity and powered landed.

could be accelerated to be fully online by summer 2027. FERC filing for C&M and Backstop auction

Investors in cleantech continue to under-expected on July 10th; backstop auction initiated in Sept. with results to be posted by Nov. 20,

estimate forthcoming buildout in PJM2026. Various stakeholders proposals and comments discussed; we focus below on IPPs and data

storage (and more broadly in the US). See ourcenter coalition.

latest S/D note.

Data Centers and IPPs Pushback; PJM Jurisdiction in Question. Data Center Coalition states

that it is "committed to invest in new capacity once the path to firm service without paying

twice is assured." Specifically data centers highlight that long ramps face connect & manage

risks. The independent power producers (IPPs) have a strong position statement, describing

C&M as illegal and unduly discriminatory: "Discriminates against existing generation by denying

existing resources the opportunity to be a contracting partner for new large loads seeking to avoid

curtailment." C&M as proposed would not provide the clarity needed for existing generation to contract

with data centers. While IPPs have advocated for treating existing generation as a resource available for

data center contracts, we do not believe this approach would be supported by states or PJM.

Data centers have indicated they are willing to support new generation, provided there is clarity on

curtailment requirements and jurisdiction. Resolving C&M jurisdiction remains important to unlocking

broader contracting activity in PJM, which has largely been on hold.