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July 22 (Reuters) – Southern Company’s (SO.N) subsidiary said on Wednesday it has signed a 25-year power supply agreement with OpenAI for a new project in Effingham County, Georgia. AI’s explosive growth is straining power grids, forcing utilities and tech giants to negotiate who bears the cost and risk as data centers balloon in size. …
Southern Co Unit Signs 25-Year Power Deal With OpenAI Read More »
(Reuters) – Tech giant Meta announced Wednesday it will build a massive data center in central Alberta, the company’s first in Canada, as it rapidly builds out computing capacity to support the global AI boom. The 1-gigawatt data center will be located in Sturgeon County and represents a total investment of C$13 billion, or $9.17 …
Meta to Build C$13 Billion Alberta Data Center, its First in Canada Read More »
By Laila Kearney PJM capacity prices up more than 1,000% in the last two years Industrial electricity prices grow faster than residential, business costs New regulations to manage data center power use could hit factories Industrial manufacturers look for ways to cut costs NEW YORK, July 7 (Reuters) – For years, electricity costs for the …
By Robert Tuttle Pembina Pipeline Corp. will move ahead with a C$4.6 billion ($3.2 billion) gas-fired electricity plant that will power a data center project in Alberta. The Greenlight Electricity Center, a 932-megawatt plant to be built in Sturgeon County, will serve a “major data center” development, Pembina, Morgan Stanley Infrastructure Partners and Kineticor Asset …
Canada’s Pembina Advances Gas-Fired Data Center Project Read More »
(Reuters) – U.S. Energy Secretary Chris Wright on Tuesday urged supporters of data centers at an Amazon Web Services conference to push back against critics, saying concerns about the facilities are “overblown.” Wright listed concerns that opponents have raised about the boom in the facilities including water and power use and that the artificial intelligence …
US Energy Chief Exhorts Data Center Backers to Push Back Against Opponents Read More »
By Levin Stamm US companies are set for another strong earnings season, driven by the AI investment boom and windfall profits for energy companies, according to Goldman Sachs Group Inc. strategists. Analysts expect S&P 500 earnings to surge 22% in the second quarter, a hurdle that companies should be able to clear, the team led …
AI Will Drive a Strong US Earnings Season, Goldman’s Snider Says Read More »
(Reuters) – Data centers are being blamed for America’s rising electric bills. But the real issue is not that AI — and consumers in general — are boosting energy usage. The real problem is structural, and it began long before the latest infrastructure boom. Average residential electricity rates rose 6% last year — more than …
(Reuters) – Chevron is exploring additional data center deals across the U.S., including the Midwest, Rockies, and Gulf Coast, following its two-decade-long contract to power a Microsoft data center in West Texas, a company executive told Reuters. Oil and gas companies such as Chevron and Exxon Mobil are angling to profit from the record-high electricity …
EYEING MORE: Chevron Eyes More Deals to Power US Data Centers Read More »
(Reuters) – Chevron is exploring additional data center deals across the U.S., including the Midwest, Rockies, and Gulf Coast, following its two-decade-long contract to power a Microsoft data center in West Texas, a company executive told Reuters. Oil and gas companies such as Chevron and Exxon Mobil are angling to profit from the record-high electricity …
Chevron Eyes More Deals to Power US Data Centers Read More »
Takeaways by Bloomberg AI FERC approved orders to pressure grids to handle hyperscalers’ connection requests within 90 days, and is requiring data centers to pay for their own power and be flexible with electricity consumption. Utilities must now disclose the cost of adding major new consumers to the grid, and grids covering almost two thirds …
US Regulator Makes ‘Interventionist’ Pivot to Speed Data Centers Read More »
