In PJM’s two-part plan, the grid operator is also facilitating a process for data centers and power suppliers to reach bilateral deals. Through the auction, PJM will pay up to $20 billion for new power plants to help supply data centers built through 2027, the Natural Resources Defense Council said on Friday. The grid operator proposed a $555/MW-day overall price cap for the auction, up from a $325/MW-day cap for its last base capacity auction. PJM aims to announce the backstop auction results by Dec. 2, before it holds a base capacity auction for the 2029/30 delivery year. The rules would affect data centers that come online after June 1, 2027.