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PJM capacity, 5CP peak load contribution · estimate

Cipher Digital, Ulysses site, Ohio

A 200 MW site on AEP Ohio, due to energize at the end of 2027. Its first full summer in PJM sets its capacity tag from five hours.

PJM coincident-peak charge a year at the announced load

$24,340,000

on 200 MW drawn at all 5 peaks, at $121.7/kW-yr

At the published draw, 0 MW$0At 200 MW$24,340,000Each peak sat out$4,868,000

What sets it: The five highest PJM load hours, each on a separate weekday, June to September. Each of those peaks the campus curtails through takes its share off the year.

Change these numbers

What the estimate uses

  • 200 MW treated as draw at peak hours once built out: the site's capacity, secured from AEP Ohio, which Cipher says gives it direct access to PJM.
  • 0 MW treated as draw at peak hours now: not yet energized. Cipher targets energization in the fourth quarter of 2027.
  • No curtailment. The rate, $121.7/kW-yr, comes from PJM 2027/2028 auction results: 2027/2028 capacity price, $333.44/MW-day, times 365. Your utility's loss and scaling factors apply on top. It is not AEP Ohio's own tariff.

Sources

  • Cipher Mining (now Cipher Digital), Dec 23, 2025: acquired the 200 MW Ulysses site in Ohio with capacity secured from AEP Ohio; on track to energize in Q4 2027.
  • TheEnergyMag, Dec 23, 2025: 200 MW Ohio site with AEP Ohio agreements in place, not expected to energize until Q4 2027.
  • DCD, undated: the site could offer 200 MW, with capacity secured from AEP Ohio.

Figures as published on October 30, 2026. PJM Peak Load Contribution: mean of the five coincident peak hours, scaled by the zone's factors.

What this is not

  1. Not a bill. Announced capacity is not metered load, and a campus rarely draws all of it at a system peak.
  2. One charge only, the PJM capacity, 5CP peak load contribution. Energy, other transmission and distribution charges are not in it.
  3. The figure assumes the campus curtails at none of the peaks. Sitting peaks out is what lowers it.

Run your actual contracted and drawn MW, year by year, in the estimator. Corrections to the public figures: contact.