North American wholesale power markets during the week ending February 20, 2026, showed a clear shift from mid-winter volatility toward operational stability as temperatures warmed across much of the Eastern and Southern United States. This stability was marked by real-time peak price trends returning to normal across major hubs, supported by strong solar energy recoveries in the West and reduced heating demand in the East. However, the week was most notably defined by a historic shift toward long-term grid reinforcement, with PJM Interconnection and the Midcontinent Independent System Operator (MISO) announcing multi-billion-dollar transmission expansion plans. These landmark projects, totaling over $20 billion in expected investment, aim to address the dual challenges of rapid load growth from data centers and the large-scale integration of renewable energy resources.