PJM Interconnection, the largest grid operator in the United States, has suspended a one-time backstop capacity auction intended to address a 6.8-gigawatt shortfall linked to rising data-center demand. The Federal Energy Regulatory Commission, or FERC, is reviewing the proposal through a paper hearing, keeping the suspension in place until February 28. The pause highlights regulatory scrutiny of PJM’s emergency-style procurement efforts and has coincided with market activity indicating a potentially higher perceived likelihood of a Texas data-center moratorium. Observers are monitoring FERC’s review, revised PJM filings, actions by Governor Greg Abbott and the Texas Legislature, and developments involving ERCOT and the Public Utility Commission of Texas; Vera is promoting related live prediction-market analysis.