POWER, POLICY, AND PROJECT RISK CONVERGE

The Signal · Key Highlights

several major grid regulators and ISOs are on the brink of changing how very large electrical loads get studied, integrated, and financially backed — and those changes could flip project timelines and feasibility assessments in 2026.
ERCOT has formally posted Market Notice M‑A122325‑02 and scheduled a workshop on February 3, 2026 to propose a new Batch Study process for very large loads. This framework would bundle large load interconnection studies to improve efficiency, consistency and timing — with stakeholder feedback feeding into a proposed filing expected later in February.
PJM ’s Board of Managers issued a Decisional Letter on its Critical Issue Fast Path (CIFP) for Large Load Additions on January 16, 2026 . That letter outlines major elements PJM intends to translate into tariff/manual changes — including tighter load forecasting, expedited interconnection tracks (especially for capacity paired with generation), and clearer roles for states and Load Serving Entities. PJM is expected to supplement its CIFP filing by February 27, 2026 as required by FERC directives.
SPP (Southwest Power Pool) received FERC acceptance of its High‑Impact Large Load (HILL) and HILLGA processes under Docket ER26‑247 with an order issued January 14, 2026 . This creates defined 90‑day study tracks and a paired generation assessment mechanism designed to reduce speculative interconnection requests and accelerate delivery timing for large loads and associated generation.
CAISO just posted an issue paper on “Large Load Considerations” (January 30, 2026) and will host a stakeholder information session on February 5, 2026 . The paper frames potential future changes to how large loads (like hyperscale data centers and EV infrastructure) are planned, forecasted, and studied in interconnection and operational planning.
At the federal level , the Arizona Corporation Commission (ACC) has formally intervened in FERC’s RM26‑4 ANOPR on the interconnection of large loads — a DOE‑directed rulemaking intended to produce broad, standardized procedures for large load interconnections by April 30, 2026 . Arizona’s participation reflects increasing state scrutiny of federal grid jurisdiction, cost allocation, and how reliability rules intersect with state authority.

Key Takeaways

“across ERCOT, PJM, SPP, CAISO, and federal/state jurisdictions, we are seeing coordinated moves to rewrite assumptions on study timelines, registration categories, forecasting roles, financial security/site‑control proofs, and cost allocation — not just tweaks. These shifts could materially alter feasibility, interconnection timing, and risk profiles for large load projects in 2026.”

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