MISO Spring 2026 Capacity Auction Preview: 2 GW Load Jump and 28 GW Expedited Generation Queue
MISO's upcoming 2026/2027 Planning Resource Auction — with an offer window of March 26-31 and results posting April 28 — faces a 2 GW load increase over the previous planning year. Preliminary data shows 135.6 GW of accredited capacity against a reserve margin requirement of 137.5 GW and a forecasted coincident peak of 124.7 GW. To address the tightening margins, MISO's Expedited Resource Addition Study (ERAS) is evaluating 68 projects totaling 28 GW — a massive fast-track generation pipeline spanning gas, solar, wind, and batteries. NERC projects peak demand across the MISO footprint could increase 24% due to new data center loads. For Midwest industrial and commercial buyers, the auction results will directly impact capacity charges for the next year.
The Supply-Demand Math
MISO's planning reserve margin requirement for 2026/27 stands at 137.5 GW, designed to cover a forecasted coincident peak of 124.7 GW for summer. The preliminary accredited capacity of 135.6 GW already falls short of the requirement by approximately 1.9 GW — though additional resource registrations are still pending and could close the gap.
The 2 GW load increase over the previous year is being driven by a broad-based rise in demand across load-serving entities. While data centers are the headline driver, electrification of transportation and heating, new manufacturing facilities, and general economic growth are all contributing.
ERAS: The 28 GW Fast-Track Pipeline
MISO's Expedited Resource Addition Study is examining 68 projects totaling approximately 28 GW. This isn't the standard interconnection queue (which can take 5-7 years) — ERAS is designed to accelerate new generation to address resource adequacy risks within 2-3 years.
The 28 GW spans the resource mix: gas-fired combined cycles and combustion turbines for dispatchable capacity, battery storage for peak shaving, and solar and wind for energy production. If even half of these projects advance to commercial operation, MISO's capacity position improves dramatically.
MISO-SPP Interregional Coordination
MISO and SPP held their regional conference February 23-24 in New Orleans, focusing on "Data Center Disruption" and interregional planning. The $1.8 billion Joint Targeted Interconnection Queue (JTIQ) plan — aimed at enabling 28.6 GW of primarily renewable generation across the seam between MISO and SPP — has a target in-service date of 2031.
A new Coordinated System Plan study is also being initiated in 2026, with stakeholders submitting transmission issues to both RTOs by February 6. This biennial study could identify additional interregional projects that benefit both footprints.
⚡ Expert Insight — KilowattLogic Research
"MISO's capacity situation is better than PJM's, but the direction is the same — tightening. The 2 GW load increase isn't alarming by itself, but it's the trend that matters: loads are rising every year while thermal retirements continue. Watch the April 28 auction results closely. If Zone 7 (Michigan) separately prices capacity — which happened in the 2025/26 auction — it signals localized scarcity that directly impacts commercial rates in the state. For Midwest manufacturers and commercial facilities, the ERAS pipeline is actually a positive signal: it means new capacity is coming, which should moderate price increases in the 2027-2029 timeframe."
Key Dates for Commercial Buyers
Sources: MISO preliminary 2026/27 auction data, RTO Insider, Utility Dive, MISO-SPP Regional Conference materials, NERC demand forecasts, MISO ERAS process updates. Accredited capacity data is preliminary; final figures available at auction close.