The DeepStack Call · Part 13 · Markets
The Ratepayer Pays First
MixedThe ratepayer pays first
Data centers pay for their own wires. The higher capacity price their demand sets lands first on every PJM household's bill.
ConvictionModerate
What to do with this
- Compare medians, not states: PJM's nine rose a median 11.7% per kilowatt-hour in the year to July, against 5.6% elsewhere.
- Separate the wire from the scarcity: pledges fund the upgrades a project triggers; the capacity price reaches every PJM bill.
- Mark December 9: PJM's auction for 2029/2030 shows whether the price ceiling still binds.
Next test · Oct 20, 2026The federal price data for August: whether the median twelve-month rise in household prices across PJM's nine jurisdictions stays at least four points above the median of the other 42, from 11.7% against 5.6% in July.