国际AI工业+能源周报：全球天然气市场近期整体走强，PJM调整2026/27和2027/28年的容量拍卖设定价格

Core Insights - The rapid development of AI data centers in the US is marked by significant investments, with OpenAI, SoftBank, and Oracle establishing Stargate with an initial investment of $100 billion, aiming to increase it to $500 billion, and the first project has commenced in Texas [2][21][24] - The expansion of AI data centers is driving a surge in electricity demand, necessitating solutions for cooling issues, with Vertiv launching global liquid cooling services to ensure stable operations [2][25] - The US electric and specialty transformer primary product price index was 427.445 in December 2024, showing a slight month-on-month decline but a year-on-year increase of 1.6% [3][42] Infrastructure - In the US, the Pennsylvania governor reached an agreement with PJM to lower the capacity auction price cap for 2026/27 and 2027/28 from $500 to $325 per MW-day, expected to save consumers $21 billion over two years [4][32] - The average spot price of electricity in major US regions increased to $72.48/MWh, up 1.39% from the previous week [6] Industrial Equipment - The price index for electric and specialty transformers in the US remained stable at 432.642 in December 2024, with a year-on-year increase of 1.59% [3][43] - The price index for electric motors and generators in the US was 366.221 in December 2024, showing a year-on-year increase of 24.8% [3][55] Energy - The global natural gas market has strengthened recently, with US spot prices rising 13.75% week-on-week to $3.68 per million BTU as of February 11, 2025 [5] - The US natural gas total inventory is currently below the five-year average, despite a week-on-week increase in supply [5] Investment Recommendations - The report suggests focusing on companies like GE Vernova, HD Hyundai Electric, and Siemens Energy due to strong long-term infrastructure demand in the US [7] - For natural gas industrial companies, Targa Resources, Williams Companies, and Kinder Morgan are recommended for attention [7]