Home / Data story
Data story · DCPI first reading 2026-11-11 · v0.2.1-real

Data-center power now has a public, recomputable price reading

Five official tariff sheets — three in Missouri, one in Indiana, one in Michigan — run through the same load factor give an annual effective price with a median of 64.0 $/MWh. The low is I&M Indiana at 56.8; the high is I&M Michigan at 76.7: one company, two neighbouring states, 19.9 $/MWh apart. The rule was registered before the number: the first reading is the unweighted median of all full-level cells.

Updated 2026-11-12 (sixth cell): Xcel Minnesota's A97 rate sheet is now verified as full level, giving an annual effective price of 54.8 $/MWh (60.1 summer / 52.2 winter; transmission level; on-peak hours are 34.83% of the year). Run it through the same pre-registered rule and the reading holds at 64.0 $/MWh. The ranges in the body below (56.8-76.7) and the two-part split keep the 2026-11-11 five-cell basis; the current six-cell table is on the DCPI index page.

First reading
64.0 $/MWh
unweighted median of 5 cells
Cell range
56.8 – 76.7
all full-level tariffs
Same company, two states
19.9 $/MWh
I&M Indiana vs Michigan
Terms ledger
11 rows
5 of them full-level · plus 5 third-party reference rows
Five tariffs, one median
Annual effective price computed under one basis (80% load factor, 4 summer / 8 winter months), in $/MWh. Dashed line = the first reading.
0 20 40 60 80 $/MWh MO · Ameren 11(M) 64.0 MO · Evergy Metro 68.7 MO · Evergy West 64.0 IN · I&M I.P. 56.8 MI · I&M LP 76.7 median 64.0
Cell by cell: how each tariff was read
Energy and demand components come straight off the official sheets (links in every row of the DCPI page); seasonal values are weighted 4 / 8 months into the annual figure.
State / utility / tariffEnergy summer / winter (¢/kWh)Demand summer / winter ($/kW-mo)Seasonal ($/MWh)Annual
MO · Ameren Missouri
11(M) Large Primary Service · effective 2025-06-01
4.06 / 3.7123.90 / 10.6381.5 / 55.364.0
MO · Evergy Metro
Schedule LLPS, Sheet 77 · effective 2026-03-09
2.99 / 2.9924.04 / 22.0471.0 / 67.668.7
MO · Evergy Missouri West
Schedule LLPS, Sheet 187 · effective 2026-03-09
2.88 / 2.8821.89 / 19.8966.3 / 62.964.0
IN · I&M (AEP)
Tariff I.P., transmission level · IURC No. 20 · effective 2025-02-19
3.93 / 3.9310.19 / 10.1956.8 / 56.856.8
MI · I&M (AEP)
Tariff LP, transmission level · M.P.S.C. No. 18 · effective 2024-07-15
3.63 / 3.6323.59 / 23.5976.7 / 76.776.7

Source-sheet links and the demand build-ups (grid charges, blended two-tier TOU energy) sit on the DCPI index page and the machine-readable endpoint /api/v1/dcpi/latest.json.

One formula, anyone can recompute
Ameren 11(M) as the worked example, three steps. The 80% load factor and 730 hours a month are part of the basis, not an estimate.
Summer = 4.06 ¢/kWh × 10 + 23.90 $/kW-mo ÷ (0.8 × 730 h) × 1000 = 40.6 + 40.9 = 81.5
Winter = 3.71 ¢/kWh × 10 + 10.63 $/kW-mo ÷ (0.8 × 730 h) × 1000 = 37.1 + 18.2 = 55.3
Annual = 81.5 × 4/12 + 55.3 × 8/12 = 27.2 + 36.9 = 64.0 $/MWh

The demand term is divided by load factor × 730 because demand charges are billed on peak kW per month while the index needs a cost per MWh. The lower the load factor, the more that fixed demand charge costs per kWh — so 80% is a stated basis, not a sector average. Change the load factor and the reading changes with it.

Why only five cells: four admission tiers, full only
The same question — what does data-centre power cost — has disclosure quality that differs by an order of magnitude between states.
TierMeaningExamplesIn the reading?
fullThe official sheet discloses both energy and demand components; every line is recomputableAmeren 11(M), Evergy LLPS ×2, I&M I.P. / LPyes
partialOnly some components disclosed (e.g. demand-only, or delivery-only); no complete effective priceDominion GS-5 (demand only), ComEd Extra Large Load (delivery only)no
formulaPriced per deal under a trade-secret formula; no verifiable numbers in the rate bookOtter Tail (Minnesota)no
confidentialAmounts redacted or bound by confidentiality agreementsEntergy special contract, Xcel Minnesota E002/M-26-170no

This is the one-line reason the index exists: the terms layer is fully public, the price layer is almost entirely not. PUC dockets are public by statute, yet the entries that actually carry a price are either redacted wholesale as trade secrets or disclose a single demand component. The reading covers states whose tariffs can be verified, not the whole country — that sentence travels with every citation.

Third-party reference: the same 25 MW data centre across five tariffs
E3 × Halcyon's May 2026 white paper models the annual bill of a hypothetical 25 MW transmission-connected data centre under five tariffs, converted to ¢/kWh. Third-party model values, not this site's price cells.
Tariff¢/kWhvs this site's median (6.40 ¢)
Oncor transmission service (TX)5.44−0.96
Dominion GS-4 (VA)6.54+0.14
Dominion GS-5 (VA)7.96+1.56
ComEd Extra Large Load (IL)8.86+2.46
Georgia Power PLL-18 (GA)9.43+3.03

E3's model includes customer, demand, energy and rider charges with E3's own load shape and site assumptions — it must not be conflated with this site's line-by-line recomputation from official sheets. It is here for one purpose: a cross-state order-of-magnitude reference. The same 25 MW load can cost nearly twice as much.

Three basis notes you must not skip

① This is a tariff computation, not your bill

Riders (fuel adjustment, efficiency, renewable standards), reactive charges, customer charges and taxes are excluded — the all-in bill is higher. 64.0 is a comparable floor, not a final cost.

② The 80% load factor is part of the basis

Real data-centre load factors run roughly 70-90%. 80% gives every tariff a common denominator; changing it moves both the energy and demand terms, so it lives in the methodology rather than in a footnote.

③ Public tariffs only — no deal prices, no forecasts

Negotiated PPAs, redacted contracts and commercial quotes are out of scope. This page does not forecast power prices and does not judge any state's or company's rate policy — it puts five public tariffs over one denominator.

Keep reading

Data endpoint: GET /api/v1/dcpi/latest.json · tariff ledger: data/dcpi/tariffs.json (source_url and docket per cell)

Basis and red lines: every number on this page comes from public state utility commission dockets and official utility tariff sheets and is verifiable line by line; no non-public contracts, redacted data or third-party model values are used (the E3 reference table is separately labelled). This page is not a power-price forecast, a procurement recommendation or investment advice, and does not evaluate any state, company or rate structure.