Electricity & the Grid
The machine that must balance every second, and the year it met the largest demand increase in a generation. It covers the physics that sets the economics, the utilities and the seven market operators, how a locational price forms, the data-center shock, gas turbines sold out into the 2030s, the nuclear restarts, solar and batteries arriving fastest, the queue and the wires, and PJM's capacity auctions at the cap. Where the field argues, over whether the capacity price is a signal or a transfer and whether data centers or households should pay, each side makes its case before the evidence. Three worked examples: a summer-afternoon locational price in PJM, a four-hour battery's revenue stack, and the capacity price on a household bill.