Cycle on Jul 6, 2026

I will begin by listing the open threads and reading the existing notes for this topic to understand what has already been tracked and what questions or watches are currently outstanding.

I will now read the existing notes for this topic to review our past findings and understand the specific context for PGE's Schedule 96, PacifiCorp's Oregon tariff, and the upcoming PJM 2028/2029 capacity auction.

I see that today is July 6, 2026. Let's check the current status of the key watches: - Oregon PUC Final Decision on PGE Schedule 96 Rates (expected July 7, 2026 - tomorrow) - PJM 2028/2029 Capacity Auction Closes under Price Collar (expected July 7, 2026 - tomorrow) - Louisiana PSC Decision on Entergy's Seven New Gas Plants for Meta Let's do a search on recent developments for: 1. Portland General Electric (PGE) Schedule 96 rates / Oregon PUC decision. 2. PJM 2028/2029 Capacity Auction, clearing, or extensions. 3. PacifiCorp's Oregon large-load / data center rate proposal. 4. Entergy Louisiana / Meta gas plants / Louisiana PSC decision. 5. Other utilities (Constellation, Vistra, Talen, NRG, AEP, Southern, Dominion) and recent earnings/regulatory filings. I will start with a web search to check on Portland General Electric's Schedule 96 and PacifiCorp's Oregon data center rate tariff.

Ah! Look at the results. One result says: "Oregon utility regulators delay PGE's data center rate increase for a..." and another is "Oregon PUC Approves New Rate Structure to... Media Release". Let's search specifically for the delay or the final decision on PGE's Schedule 96. Let's run a search for recent PGE Schedule 96 or PGE data center rate decision in June/July 2026.

Let's fetch the page: `https://www.opb.org/article/2026/06/10/oregon-utility-regulators-delay-pge-data-centers/` and `https://www.opb.org/article/2026/06/23/hillsboro-data-center-fight-heads-to-court/` and `https://www.opb.org/article/2026/06/04/data-centers-utility-rate-pge/` to see what is happening.

Let's also fetch: `https://www.opb.org/article/2026/06/23/hillsboro-data-center-fight-heads-to-court/` and `https://www.opb.org/article/2026/06/04/data-centers-utility-rate-pge/` to see the details of the Hillsboro court fight and the 29% PGE rate details.

Let's also fetch the 29% PGE rate increase article from OPB: `https://www.opb.org/article/2026/06/04/data-centers-utility-rate-pge/` to understand the PGE Schedule 96 rate details.

This is a very clear and rich set of updates. - Under the POWER Act (passed in 2025), PGE has proposed a 29% rate increase on data centers (specifically Schedule 96), and a 1.3% decrease for residential bills, and a 2.2% decrease for commercial bills. - The Oregon PUC delayed its decision by a month (from June 10) to July 7, 2026. This is tomorrow! - Additionally, a major lawsuit was filed on June 22, 2026, by a coalition led by 1000 Friends of Oregon, joined by a Hillsboro city councilor (Kipperlyn Sinclair), teachers' unions, school board members, and farmers, challenging 17 recently approved enterprise zone applications (tax breaks) for data centers in Hillsboro, Oregon (including Adobe, Coreweave, Dropbox, Flexential, NTT Global Data Centers, QTS, and SI POR03E) that were rushed through before a state moratorium on data center tax breaks went into effect on June 5. Let's check PacifiCorp's Oregon data center rate proposal. I'll do a web search on PacifiCorp's Oregon large-load or data center rate tariff under the POWER Act.

Let's fetch `https://www.newsdata.com/clearing_up/courts_and_commissions/consumer-advocates-question-pacificorp-data-center-rate-proposal/article_3175cd1f-4b26-4159-988b-8c6f07f40058.html` to see the details of the consumer advocates' challenge to PacifiCorp's Oregon data center rate proposal. If it is paywalled, let's search for some other resources or details of PacifiCorp's filing.

This is incredibly detailed! - Oregon’s POWER Act was passed in August 2025. - PacifiCorp filed its proposed tariff revision (Schedule 401) in October 2025 to establish a new rate schedule for data centers and large-load users. - Under PacifiCorp's Schedule 401, data center facilities (20 MW or more) must enter into individualized "large energy use facility agreements" lasting at least 10 years, with direct cost assignment and minimum charges even if usage is lower than projected. - Oregon Citizens' Utility Board (CUB) filed active challenges, arguing PacifiCorp's plan is "too vague," "lackluster," lacks clear consumer protections, and tries to use a 60-day regulatory review window for each individualized contract which is too short. - The contested case is scheduled to continue through October 2026. Let's check the PJM 2028/2029 Capacity Auction. As noted, the auction is scheduled to close on July 7, 2026 (tomorrow). Let's search for any news about the PJM capacity auction, clearing, delay, or related filings. I will do a search.

This is crucial: - The bidding window for the PJM 2028/2029 capacity auction opened on June 30, 2026, and is scheduled to close tomorrow, July 7, 2026. - The results will be posted on July 14, 2026, after 4:00 PM Eastern. This means the closing watch is active and on track, and we should keep it open, but we can update its description or note that the window closes tomorrow with results expected on July 14, 2026. Let's check the status of Entergy Louisiana's natural gas plants for Meta (Project Evest / Hyperion AI data center). I will run a search.

Let's fetch: `https://lailluminator.com/2026/06/23/gov-landry-warns-power-plant-purchase/` to see the latest developments about the Louisiana PSC / Entergy Louisiana power plant purchase and Governor Landry's warning. This will give us excellent fresh regulatory context.

This is an incredible development in Louisiana! Let's summarize what's happening: - Meta's massive $28 billion AI data center (Project Evest / Hyperion) in Northeast Louisiana has caused a projected power shortfall. - To address this, Entergy Louisiana submitted a separate filing to purchase an existing 22-year-old gas-fired power plant in Newton County, Texas (the Cottonwood plant) from Atlas Holdings for $1.4 billion (plus $300 million in needed upgrades, totaling $1.7 billion). - Crucially, Atlas Holdings had purchased a package of 14 facilities (including Cottonwood) from Cleco in 2024 for a grand total of just $600 million. Entergy's unilateral bid to pay $1.4 billion for just *one* of those plants represents a massive "scarcity premium" driven by the AI data center buildout. - On June 5, 2026, the Louisiana PSC's trusted consultant, Lane Sisung, released a landmark report warning that this purchase represents an "unreasonable" cost burden for ratepayers, translating to an extra $8 to $13 per month for the average Entergy Louisiana ratepayer. - Sisung's report flags that the shortfall is "predominantly attributable" to Meta's power needs, directly contradicting Entergy's claims that "no single customer is driving this acquisition." - Louisiana Governor Jeff Landry weighed in on June 23, 2026, warning state regulators (LPSC) not to let utility companies "take advantage" of ratepayers at the expense of power markets. - This has created a bipartisan pushback on the LPSC (including Republican Commissioner J.P. Coussan and Democratic Commissioner Davante Lewis) ahead of the LPSC's scheduled meeting on August 12, 2026. I should also check the public markets view for Entergy (ETR), Portland General Electric (POR), and PacifiCorp's parent Berkshire Hathaway (BRK.A/BRK.B) or others to ground any financial metrics. Let's call `market_view` for ETR and POR. Let's start with POR (Portland General Electric) and ETR (Entergy).

And let's call `market_view` for ETR (Entergy).

Let's analyze the findings we have. 1. We have a major update on Oregon's POWER Act implementation: - PGE's Schedule 96 29% data center rate increase and 1.3% residential rate decrease was delayed for a month by the Oregon PUC to July 7, 2026 (tomorrow) to review a complex 200-page file. We can update `oregon-pwr-act-pge-schedule-96-tariff`. - PacifiCorp has proposed its own Oregon data center tariff (Schedule 401) under the POWER Act, but consumer groups (Oregon CUB) are aggressively challenging it as "too vague" and "lackluster" due to a lack of clear calculated cost methodologies, relying instead on 10-year individualized agreements with a 60-day review window. The contested case is scheduled to run through October 2026. This resolves the thread `PacifiCorp's Proposed Oregon Data Center Rate Tariff` (id: `019f127e-4eb0-7923-b3d3-1ec208b5d6b5`). Let's write a note on PacifiCorp's plan or update the existing Oregon note to cover both PGE and PacifiCorp. Since the existing note is `oregon-pwr-act-pge-schedule-96-tariff`, let's update it to cover both utilities' implementations of the POWER Act. - There is also a major lawsuit filed on June 22, 2026 by 1000 Friends of Oregon, school board members, and teachers' unions in Hillsboro, Oregon, challenging 17 recently approved enterprise zone applications (tax breaks) for data centers that were rushed through before a state moratorium on data center tax breaks went into effect on June 5. This is highly relevant to `regulatory-backlash-data-center-ratepayer-protections`. 2. We have a major update on Louisiana: - Entergy Louisiana's Meta-driven power shortfall has led to a proposed $1.4 billion purchase of the 22-year-old Cottonwood gas plant in Texas. - On June 5, 2026, the LPSC's trusted consultant, Lane Sisung, published a report warning that this purchase would add an extra $8 to $13 per month to average ratepayers' bills, calling it an "unreasonable" cost burden driven by Meta's AI data center needs. - On June 23, 2026, Louisiana Governor Jeff Landry issued a public warning to regulators not to let utility companies "take advantage" of ratepayers. - This represents a massive escalation of the backlash and directly impacts `louisiana-ai-data-center-power-boom`. 3. We have an update on PJM: - The PJM 2028/2029 Capacity Auction bidding window opened on June 30, 2026, and closes tomorrow, July 7, 2026, under the newly extended price collar of $175 to $325/MW-day, with results scheduled for release on July 14, 2026. This means the watch is active. Let's write/update the notes. Let's start with `oregon-pwr-act-pge-schedule-96-tariff`. We will revise it to include PGE's 29% data center rate increase / 1.3% residential decrease proposal, the PUC's one-month delay to July 7, 2026, and PacifiCorp's proposed Schedule 401 individualized tariff structure and the CUB challenge. Let's write this revised note.

This is excellent. Let's now resolve the thread on PacifiCorp's Oregon tariff.

Next, let's update `louisiana-ai-data-center-power-boom` to include the massive escalation of the backlash: - Meta's $28B AI data center (Project Evest / Hyperion) power shortfall. - Entergy's proposed $1.4B purchase of the Cottonwood plant in Texas, costing normal ratepayers an extra $8-$13 per month. - The PSC consultant Lane Sisung's scathing report on June 5, 2026, pointing out the massive scarcity premium (Atlas Holdings bought 14 plants for $600M in 2024, and Entergy is buying just this one for $1.4B). - Governor Jeff Landry's warning to regulators on June 23, 2026, and the upcoming August 12, 2026, LPSC meeting. - Financial context for Entergy (ETR) from `market_view`. Let's write this updated note.

This is excellent. Let's update `regulatory-backlash-data-center-ratepayer-protections` to incorporate the Hillsboro lawsuit filed on June 22, 2026. Under this, we can detail: - The Hillsboro lawsuit filed by 1000 Friends of Oregon, school board members, and teachers' unions (Oregon Education Association). - Challenging 17 recently approved enterprise zone applications (tax breaks) for tech companies (Adobe, Coreweave, Dropbox, Flexential, NTT Global Data Centers, QTS, and SI POR03E) that were rushed through by Hillsboro city staff before the state moratorium on data center tax breaks went into effect on June 5, 2026. - The core of the legal challenge: that these cash-rich tech companies are receiving tens of millions in tax incentives without public notice or City Council oversight, starving school districts of property tax revenues during a budget crisis. Let's fetch the existing note `regulatory-backlash-data-center-ratepayer-protections` to see its current content so we can edit it precisely. I will do a web_search or read_notes, but since I already have its slug, let's write the note updating it. I will write the updated note for `regulatory-backlash-data-center-ratepayer-protections`.

This is outstanding! I have successfully updated the key notes with fresh and concrete evidence from this cycle, resolved the PacifiCorp thread, and linked everything together beautifully using stable slugs and wikilinks. Let's review our watches: 1. `Oregon PUC Final Decision on PGE Schedule 96 Rates` (id: `019eca69-7437-7d65-93e0-ce80b02f9cf2`) - The fire date is July 8, 2026. This watch is set to fire tomorrow when the OPUC releases its final decision. We should keep this open. 2. `PJM 2028/2029 Capacity Auction Closes under Price Collar` (id: `019ea65a-ea15-7c43-a1be-b796d6b5a6cb`) - The fire date is July 8, 2026. This watch is set to fire tomorrow when the bidding window closes, and results are scheduled for release on July 14, 2026. We should keep this open. 3. `Louisiana PSC Decision on Entergy's Seven New Gas Plants for Meta` (id: `019eee6e-7999-77fb-81a7-d30d411389c0`) - The LPSC meeting is on August 12, 2026. This watch is active and should remain open. Let's register a new watch for the Cottonwood plant acquisition decision or Lane Sisung's report follow-up. Since the LPSC meets on August 12, 2026, to discuss Entergy's power plant purchase and Meta's power requirements, let's register an ongoing or one-shot watch for the Louisiana PSC's decision on the Cottonwood gas plant acquisition. This is a very specific forward-looking catalyst. Let's register it.

This is perfect. Now, I am ready to call `finish_cycle` to complete this research cycle. I will execute that now.

I have completed the research cycle for topic `019e89cc-63bd-7bf7-9468-ba5ee76fd2d8`. Below is a summary of the key findings, updates, resolved threads, and new watches established during this cycle: ### 1. Oregon's POWER Act Implementation & Rate Restructuring * **PGE's Schedule 96 Proposal:** Portland General Electric (POR) has proposed a landmark 29% rate increase for data centers using over 20 MW under the state's 2025 POWER Act ("growth pays for growth"), which would concurrently lower residential bills by 1.3% and commercial bills by 2.2%. The Oregon Public Utility Commission (OPUC) delayed its final decision by one month to **July 7, 2026** (tomorrow) to review PGE's complex 200-page filing. * **PacifiCorp's Schedule 401 Proposal:** PacifiCorp filed its own tariff in October 2025, proposing 10-year individualized "large energy use facility agreements" with direct cost assignment and minimum billing charges. However, the Oregon Citizens' Utility Board (CUB) has challenged the proposal as "too vague," lacking clear cost-calculation methodologies, and relying on a 60-day regulatory review window that is too short. The contested case will run through October 2026. * **Hillsboro Legal Battle:** On June 22, 2026, a major coalition led by **1000 Friends of Oregon** and the state's largest teachers' union (Oregon Education Association) filed a lawsuit against Hillsboro and Washington County. The suit seeks to nullify 17 recently approved enterprise zone applications (representing multi-decade tax breaks) for data centers (including Adobe, Coreweave, Dropbox, Flexential, NTT Global, and QTS) that were rushed through by city staff just before a statewide moratorium on data center tax breaks went into effect on June 5, 2026. * **Updated Note:** `[[oregon-pwr-act-pge-schedule-96-tariff]]` * **Updated Note:** `[[regulatory-backlash-data-center-ratepayer-protections]]` * **Resolved Thread:** *PacifiCorp's Proposed Oregon Data Center Rate Tariff* (ID: `019f127e-4eb0-7923-b3d3-1ec208b5d6b5`) ### 2. Louisiana's $1.7B Cottonwood Acquisition Backlash * **The Scarcity Premium:** To cover a capacity shortfall driven predominantly by Meta's $28 billion AI data center (Project Evest / Hyperion) in Richland Parish, Entergy Louisiana (ETR) proposed to buy the 22-year-old Cottonwood gas plant in Texas from Atlas Holdings for $1.4 billion (plus $300 million in upgrades). Atlas Holdings purchased a package of 14 plants (including Cottonwood) in 2024 for just $600 million, exposing a massive "scarcity premium" driven by AI power demands. * **Ratepayer Impact & Bipartisan Backlash:** On June 5, 2026, LPSC consultant Lane Sisung warned that the purchase is an "unreasonable" cost burden that would raise average residential bills by **$8 to $13 per month**. On June 23, 2026, Governor Jeff Landry warned regulators not to let utilities "take advantage" of ratepayers. Bipartisan members of the LPSC have aligned with Sisung's warning ahead of their next meeting on **August 12, 2026**. * **Updated Note:** `[[louisiana-ai-data-center-power-boom]]` * **New Watch Registered:** *Louisiana PSC Vote on Entergy's $1.4B Cottonwood Plant Purchase* (ID: `019f368a-84de-7966-96da-e934c102b368`, targeting August 13, 2026) ### 3. PJM 2028/2029 Capacity Auction * The bidding window for the PJM capacity auction opened on June 30, 2026, and closes tomorrow, **July 7, 2026**, under the newly extended price collar ($175 floor, $325 cap). Results are scheduled for release on **July 14, 2026**. The existing watch remains active.