Regulatory moves, rate cases, capacity market shifts, and competitive supply developments across every major U.S. ISO. Curated for the people who actually trade, schedule, and manage energy portfolios.
Energy Transfer's line starts moving Permian gas toward East Texas and the Henry Hub area on Sept. 1, eventually 2.2 Bcf/d. October futures settled at $2.862 Friday, back under $3, with Lower 48 dry production at 113 Bcf/d and storage 5.5% above the five-year average. Traders priced the supply before the first molecule moved.
PJM pulled Oklo's 750-MW mix of advanced nuclear, fuel cells and gas from its first reformed study cycle, saying the company never showed the project could ride through a sudden voltage drop. Oklo filed an emergency complaint Friday asking FERC to restore its original queue position, and says the withdrawal costs it at least 14 months. That's supply for a Meta campus in Ohio that doesn't show up on schedule.
The state AG and Energy Commission sued over the deal that cancelled the 2-GW Golden State Wind lease off Morro Bay for $120 million. California says Washington first devalues a lease, then buys it back at the original bid price. The same playbook has already retired several gigawatts of planned East Coast supply, with proceeds redirected into oil and gas.
Staff told the ICAP working group where they want to focus the next Demand Curve Reset, floating a new curve shape while keeping the status quo on the proxy unit. The curve decides how fast capacity prices climb as margins tighten, so the shape is the whole argument. Nothing moves for New York load until the parameters land.
After hours of testimony Friday the PUC approved two Oncor segments, the first 765-kV transmission ever built in Texas, carrying power to the oil and gas country out west. ERCOT had told lawmakers the Permian risks rolling blackouts next summer without them. More import capacity into a constrained zone is less congestion to price into West Texas load.
Ohio's consumer counsel asked FERC to finally rule on a 2023 complaint over local and supplemental transmission. Since it was filed, AEP, FirstEnergy, AES and Duke have pushed more than $4.3 billion of projects through PJM's Attachment M-3 process with no prudence review. It's load-side cost that shows up in delivery charges, not energy, and nobody's tested whether it was needed.
Sapphire Gas Solutions picked up EDGE LNG from Blue Water Energy, adding about 200,000 gal/day of modular liquefaction across the southern U.S. The play is vertical integration for off-pipeline demand, the loads that can't wait on a lateral. Volumes are small against 122 Bcf/d of production, so it won't move Henry Hub, but it's another bid for gas where infrastructure doesn't reach.
Duke Energy Florida is the first utility to file under SB 484 and it's arguing a rate freeze means it can skip setting a large load rate until 2027. Public counsel Walt Trierweiler says there's no exemption in the statute. This is the first-impression case on whether hyperscalers pay incremental cost or average embedded, and every state writing large load tariffs is watching it.
Trump signed an executive order Wednesday declaring a national emergency and giving DOE 120 days to write rules limiting foreign-made transformers, batteries, inverters and their software from connecting to the bulk power system. It also lets the Energy Secretary put conditions on gear already installed. China makes 80% or more of some of that equipment, so anything that slows or reprices additions pushes the capacity and energy costs suppliers pay higher.
Monitoring Analytics puts existing and forecast data center load at 9% of the PJM wholesale price through July, or $10.48/MWh, all of it coming through capacity. The last four auctions added $29.4B in capacity revenue tied to that load growth, and the monitor says the number keeps climbing until the large-load question gets settled. Total wholesale cost is up 46% to $116.53/MWh, $56.7B for seven months against $38B last year.
MISO told its Planning Advisory Committee its South load pockets haven't been operating to the one-day-in-10-years standard and could be shorter on capacity by 2030, even counting the generation and transmission utilities are already adding. Amite South and Downstream of Gypsy are the problem children. That's the setup for the new South long-range transmission plan, and load-pocket scarcity is what puts a bid under regional prices.
DOE's National Transmission Needs Study says roughly 4,000 miles of line have to be replaced every year for decades, with most of the fleet built in the 1960s and '70s. It pegs load growth at 16% to 25% by 2034, mostly data centers. Nine transmission owners including Ameren and Evergy are asking FERC for right of first refusal on big multi-state lines, and consumer advocates say killing competitive bidding is how the cost lands on ratepayers.
Ottawa's $27.6B counter-tariff list leaves oil and gas flows alone but puts 50% duties on line pipe, casing and drill pipe. Alberta only sources 2% of its pipe from the U.S., so the direct hit is small. The real risk is what a former Alberta Petroleum Marketing CEO flagged: developers sitting on capital decisions until the dispute clears, which pushes out takeaway capacity on both sides of the border.
NRDC models 390 to 540 GW of wind, solar and storage disappearing over the next decade from tax credit rollbacks, tariffs and lease buybacks. At most 9 GW of gas fills the hole, because turbine slots are sold out into the 2030s. The group has the power sector spending $5B to $15B more on fuel and household rates running 4.2% to 5.5% higher by 2035.
ISO-NE's July report has wholesale prices down in the day-ahead and the real-time markets. That's a reversal from June, when both were up. Gas holding under $3 at the hub is doing most of the work here, and New England's clears track gas more tightly than anyone else's.
The BPU would pay up to $200/kW a year for 10 years to customers of the state's four utilities who let small batteries discharge on call. It's the first distributed block of a program that has to reach 2 GW by 2030, and the stated point is cutting peak so the state avoids future capacity obligations. Peak shaved in New Jersey is capacity PJM doesn't have to buy.
ISO-NE's internal market monitor puts spring 2026 wholesale cost at $1.75 billion, up 6% from a year earlier. Energy costs alone were up 16%. The odd part is gas averaged $2.79/MMBtu, 18% below last spring, so the cost went up while the fuel got cheaper.
Canada was set to answer 50% U.S. tariffs Tuesday, and Ontario Premier Doug Ford says electricity exports are on the table, with a 25% power tariff discussed. ISO-NE told Utility Dive it doesn't expect reliability trouble from lost imports under normal weather, but it does expect higher wholesale prices and more emissions. NYISO says it has adequate supply, though Champlain-Hudson now pushes Quebec hydro straight into New York City, so the two grids are more tied together than the last time this came up in 2025.
Generators and clean energy groups challenged how transparent National Grid's upgrade cost studies are, then the NYISO Operating Committee approved the 2024 Interconnection Cluster Study anyway. This is the first real test of cost allocation under FERC Order 2023 clustering in New York. Which projects survive the cost assignment decides what actually gets built upstate, so the price effect stays unsettled for now.
Thirty state representatives asked the PUC to deny the 765-kV applications outright, which would kill the build in its current form. ERCOT officials have testified the Permian could see rolling blackouts by next summer without those lines, and the data center moratorium is running on its own clock. Congestion doesn't wait for a permit, so a delayed backbone means wider basis and more expensive hours in the interim.
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