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◆ TESSARA JULY 23, 2026 Where AI power is cheap, and where it is brutal 3.7x PRICE SPREAD ACROSS TRACKED ZONES PRICIEST $140/MWh · JEPX_TOKYO CHEAPEST $38.0/MWh · ERCOT AVERAGE $79/MWh the spread, more than the average, decides where the AI buildout lands JEPX_TOKYO $139.6/MWh France $135.5/MWh Norway $132.5/MWh Netherlands $124.3/MWh Germany $123.3/MWh Sweden $70.9/MWh New South Wales $65.5/MWh PJM West $56.6/MWh Victoria $53.5/MWh NYISO NYC $51.0/MWh CAISO SP15 $49.0/MWh MISO $47.9/MWh CAISO NP15 $46.9/MWh ISO-NE $45.3/MWh ERCOT $38.0/MWh tessara.tech Day-ahead spot, latest · NYISO · CAISO · ERCOT · MISO · PJM · ENTSO-E · JEPX · AEMO

Where AI power is cheap, and where it is brutal

Spot electricity ranges several-fold across the grids where AI compute wants to live. That spread, not the average price, is what decides where the next data centers actually get built.
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Where AI power is cheap, and where it is brutal | Tessara