FERC didn’t settle who pays for the AI grid. It made every market litigate it.

FERC did not settle the large-load cost-allocation fight. It did something more consequential for underwriters: it forced every organised market to litigate the fight in its tariff.

Related reading: Ten Themes That Explain Why Data Centers Are Repricing Utility Economics

On June 18, 2026, FERC issued tailored show-cause orders to all six organised markets under its jurisdiction — PJM, MISO, SPP, CAISO, ISO-NE and NYISO — directing each grid operator and its transmission owners to justify or reform the rules that govern how data cent…