2026.01.23 | Winter Storm Fern & PJM’s Battle for a Two-Tiered Grid

As Winter Storm Fern threatens the Southeast with ice, a deeper structural battle is fracturing the PJM market over who funds power for hyperscalers. We contrast ERCOT’s bold reliability claims against Duke Energy’s emergency mobilization, while unpacking a controversial proposal for 15-year contracts that could favor tech giants over standard ratepayers. Listen in to understand why Vistra is trading at a massive premium and how a Supreme Court case on gas furnaces creates new winter grid risks. This episode delivers critical insights into whether the industry is inadvertently building a "two-tiered grid" where AI commands premium reliability.