Markets / NYC/NJ
C&W 2026 Americas · Primary #9 · updated 2026-11-05
New York / New Jersey
New York has the first statewide pause in force, and New Jersey has new cost-allocation law and dozens of local moratoria (counts vary by tracker). This is a latency and enterprise market, not a place for gigawatt campuses.
coolingGrid: NYISO (Con Ed, etc.); PJM (PSE&G, JCP&L, ACE, RECO)
CBRE H1 2026: NY Tri-State 190.0 MW inventory [Cushman & Wakefield, 2026 Global Data Center Market Comparison (Americas rankings) (2026-05); CBRE press release: demand continues to outpace supply (H1 2026 market table) (2026-08)]
Power and the queue
- FERC accepted PJM's Large Load definition and registry (ER26-3515), effective Oct 12, 2026. This covers the New Jersey utilities. [FERC order ER26-3515 on PJM Large Load definition and registry (2026-10-09)]
- NJ Data Center Fair Share Act (P.L. 2026, c.32, effective Jul 7, 2026): utilities must file large-load tariffs for 100 MW+ data centers. BPU RFI comments are due Nov 13, 2026. [New Jersey P.L. 2026, c.32 (A796) Data Center Fair Share Act (2026-07-07); NJ BPU: Data Center Fair Share Act request for information notice (2026-10)]
Notable projects owners where public
- Anthropic/Fluidstack custom data center in New York (part of the $50B plan). The exact site is not confirmed by Anthropic.uncertain [Anthropic: invests $50 billion in American AI infrastructure (Fluidstack, Texas and New Yo (2025-11)]
Regulatory posture incentives, moratoria, zoning, water, large-load rules
- NY Executive Order 62 (Jul 14, 2026): a one-year pause on state permits for new data centers of 50 MW or more while agencies build a framework. The Legislature separately passed a 20 MW moratorium bill. The Anthropic S-1 names New York's pause as a risk. [NCSL: New York hits pause on data centers. Will other states follow? (2026-07-15); NCSL: Which States Are Banning Data Centers? (updated Sep 15, 2026) (2026-09-15); Anthropic, PBC Form S-1/A (Amendment No. 1), filed with the SEC Nov 2, 2026 (2026-11-02)]
- NJ bills: A5482 (6-month moratorium) was introduced. Prevailing wage now applies to some DC construction (S4928). A water/energy usage reporting bill passed both chambers. [NCSL: Which States Are Banning Data Centers? (updated Sep 15, 2026) (2026-09-15); Moratorium Nation dataset (M. Bommarito, CC BY 4.0), current through Sep 23, 2026 (2026-09-23)]
- Gov. Hochul was re-elected Nov 3, so the EO framework is likely to continue. [DCD: Anti-data center candidates claim victory across the US in 2026 midterm elections (2026-11-04)]
Pending legislation and actions 14 items
| Date | Jurisdiction | Item | Status | Impact | Source |
|---|---|---|---|---|---|
| 2026-06-04 | New York state | AB 10141 / SB 9144 (and AB 11560 / SB 10642)uncertain Legislative one-year moratorium on data centers over 20 MW, plus a DEC statewide environmental impact report. Passed the Legislature on Jun 4, 2026. NCSL and an ND legislative memo cite different bill numbers. | passed legislature | high | [NCSL: Which States Are Banning Data Centers? (updated Sep 15, 2026) (2026-09-15)] |
| 2026-06-30 | New Jersey state | S3379 / A4096 / A4696 (2026-2027) Requires semi-annual data center water and energy usage reports to BPU for three years, with performance metrics for data centers receiving state incentives. | passed legislature | medium | [NJ Legislature bill history API - S3379 (2026-2027)] |
| 2026-06-01 | New York state | S6394A / A9086A (2025-2026) New York State Sustainable Data Centers Act. Requires data center disclosure reporting, public engagement, energy and water reporting, renewable-energy requirements, and surcharge or discount mechanisms tied to affordability and grid impacts. | pending | low | [NY Senate Bill S6394 (2025-2026)] |
| 2026-06-01 | New York state | S8540 / A9039A (2025-2026) "Accountability of Costs for Data Centers Act" or "AC/DC Act." Creates separate utility classification and tariff treatment for large energy-use facilities so data centers bear proportional or directly assigned service costs. | pending | low | [NY Senate Bill S8540 (2025-2026)] |
| 2026-03-23 | New Jersey state | SR18 (2026-2027) Urges PJM-region states and the District of Columbia to adopt policies requiring data centers to obtain electricity from new zero- or low-emission sources. | pending | low | [NJ Legislature bill history API - SR18 (2026-2027)] |
| 2026-03-16 | New Jersey state | A3966 (2026-2027) Directs DEP to study short- and long-term effects of large-scale data center water use. | pending | low | [NJ Legislature bill history API - A3966 (2026-2027)] |
| 2026-03-16 | New Jersey state | A4710 (2026-2027) "Clean Energy AI Incentivization Act"; directs BPU to create standards and incentives for AI data centers that bring self-sufficient clean energy. | pending | low | [NJ Legislature bill history API - A4710 (2026-2027)] |
| 2026-03-16 | New Jersey state | S680 / A1170 (2026-2027) Requires BPU approval of energy usage plans for proposed AI data centers and cryptocurrency mining facilities; requires electricity from new clean energy sources after a PJM-region trigger is met. | pending | low | [NJ Legislature bill history API - S680 (2026-2027)] |
| 2026-02-19 | New Jersey state | S3611 (2026-2027) Amends the MLUL to require planning boards to submit certain data center applications to the State Planning Commission and BPU; requires State Planning Commission approval; excludes data centers from economic development subsidies. | pending | low | [NJ Legislature bill history API - S3611 (2026-2027)] |
| 2026-01-30 | New York state | S8546 / A10049 (2025-2026) Establishes a grid modernization surcharge for covered data centers and high-intensity data centers, with revenues directed to grid reliability, capacity expansion, and clean-energy integration. | pending | low | [NY Senate Bill S8546 (2025-2026)] |
| 2026-01-07 | New York state | S8037 (2025-2026) Establishes dedicated utility treatment for data centers, including rate classification, targeted congestion management, and off-grid connection provisions. | pending | low | [NY Senate Bill S8037 (2025-2026)] |
| 2026-01-07 | New York state | S8518 / A9138 (2025-2026) Imposes an excise tax on electricity used in proof-of-work digital asset mining, with exemptions for lower-consumption and off-grid renewable operations. | pending | low | [NY Senate Bill S8518 (2025-2026)] |
| 2026-01-07 | New York state | S8536 / A9064 (2025-2026) Bars electric and gas corporations from passing costs or increasing charges due to data center or semiconductor facility buildout except to ratepayers involved with those facilities. | pending | low | [NY Senate Bill S8536 (2025-2026)] |
| 2026-01-07 | New York state | S8645 / A9136 (2025-2026) S8645 addresses carbon reduction planning and data center/BESS siting. A9136 requires new data centers to assess and incorporate thermal energy networks for waste-heat reuse. | pending | low | [NY Senate Bill S8645 (2025-2026)] |
In force / enacted 9 items
| Date | Jurisdiction | Item | Status | Impact | Source |
|---|---|---|---|---|---|
| 2026-10-09 | PJM (13 states + DC) utility | FERC order ER26-3515: PJM Large Load definition and registry FERC accepted the definition and registry, effective Oct 12, 2026, and rejected the rest of the filing. The registry is not a public per-request queue. | enacted | high | [FERC order ER26-3515 on PJM Large Load definition and registry (2026-10-09)] |
| 2026-08-25 | Town of Orangetown town | Town of Orangetown Local Law No. 5 of 2026, adding Article XX to Chapter 43 (Zoning) Adopted Duration: 180 days, renewable once for an additional 180 days by Town Board resolution | in force | high | [Local Law 5-2026 Temporary Town-Wide Moratorium (Adopted 8-25-2026)] |
| 2026-07-20 | Sayreville town | Ordinance 15-26 (Borough of Sayreville), a temporary prohibition on data center development in every zone, including the Hercules Redevelopment Area, for 18 months, introduced 2026-06-15 and adopted o Duration: 18 months from adoption; the ordinance also requires publication and mayoral approval, and the copy reviewed does not show the mayoral approval date | in force | high | [Borough of Sayreville] |
| 2026-07-14 | New York state | Executive Order No. 62 (2026) A one-year pause on state permits for new data centers with peak demand of 50 MW or more, while agencies develop a long-term framework. It is the first statewide pause in force, and Anthropic's S-1 names it as a risk. | in force | high | [NCSL: New York hits pause on data centers. Will other states follow? (2026-07-15)] |
| 2026-07-07 | New Jersey state | Data Center Fair Share Act, P.L. 2026 c.32 (A796/S731) Utilities must file large-load tariffs for data centers of 100 MW or more within 180 days after BPU standards. BPU RFI comments are due Nov 13, 2026. | enacted | high | [New Jersey P.L. 2026, c.32 (A796) Data Center Fair Share Act (2026-07-07)] |
| 2026-06-10 | Asbury Park city | Resolution 2026-264, a council resolution (not a zoning ordinance)uncertain Duration: Pause on local data center applications/site plans until the city completes its zoning code rewrite | in force | high | [https://www.wbjb.org/local-news/2026-06-19/asbury-park-calls-for-moratorium-on-ai-data-cen] |
| 2022-11-22 | New York state | S6486D / A7389C (2021-2022, enacted) Enacted a two-year moratorium on DEC permits for certain fossil-fueled proof-of-work cryptocurrency mining operations and required a generic environmental impact statement. | enacted | high | [NY Assembly Bill A07389 action history (nyassembly.gov)] |
| 2026-01-20 | New Jersey state | S4928 (2024-2025) Applies prevailing wage requirements to certain data center construction activity. | enacted | medium | [NJ Legislature historical bill history API - S4928 (2024-2025)] |
| 2025-07-08 | New Jersey state | A5466 (2024-2025) Requires BPU study and report on data center electricity cost impacts. | enacted | medium | [NJ Legislature historical bill history API - A5466 (2024-2025)] |
Pricing & supply snapshot directional
MW Desk estimate / directional range, Q4 2026
Asking-rate bands below are MW Desk directional estimates in USD per kW-month. They are rounded ranges, not quoted rates, and they go stale quickly.
- Retail colo (roughly 0–250 kW): $155–455/kW-mo
- Wholesale (roughly 250 kW–4 MW): $130–290/kW-mo
- Large / hyperscale blocks (roughly 4 MW+): $135–245/kW-mo
- Vacancy band: around 5–8% (moderately available)
- Commissioned inventory (directional): ~420–530 MW
- Available power (directional): ~10–45 MW
- Under construction: ~40–110 MW
- Planned pipeline: ~165–235 MW
- Absorption: light positive absorption
- Power / timing: Mix of tight wholesale and some retail availability; large contiguous blocks still require lead time.
Blends New York City-area and Northern New Jersey bands.
Indicative only. Ranges are rounded and adjusted directional estimates, not quoted asking rates or a survey. Confirm with brokers and operators before acting. Source data ages quickly.
TJ field notes
Coming soon: TJ's on-the-ground notes on this market. Expect what the queue really looks like, which sites can actually get power, and what the brokers aren't saying.
Slot reserved for TJ's detailed market report.