PJM BRA and regional regs drive AI datacenter energy opex volatility

EPSA Wall St/policy risks; states tariffing large loads amid strains (PJM $64-84/MWh hikes/Trump pledge toothless/hyperscalers self-fund Google MN/Meta LA); Congress Apr 9 EIA deadline/grid highs; NIMBY/regs (11 states/Bangor pause/HB307 '27/DE 2GW/OH gas/FL Palm Beach-Brevard/Midwest/KY); water 1-5M gal/day; Penn cooling 25%; gear shortages delay half; PJM 833%/72% PPAs/28GW/Soma $7M.