Demand for electricity from data centers handling AI technology drove the price of the largest electricity auction in the United States to a new record, exceeding last year’s all-time high by 22%. Organized by PJM Interconnection, the capacity auction covers 20% of American consumers and aims to ensure that there is enough generation to respond to spikes in demand, averting blackouts. At this year’s edition of the auction, the price was $329.17 per megawatt-day. In total, PJM Interconnection will be paying $16.1 billion to power generators…