"Investor-owned utilities are signaling a record-breaking wave of capital spending, and history shows that those plans are often a leading indicator of future utility rate increase requests."
"Utilities requested a record-high $31 billion in rate hikes in 2025 across the nation-more than twice the near record from 2024-as consumer and political backlash grows over rapid data center and power plant construction nationwide."
U.S. utilities and power generators are raising capital spending plans to unprecedented levels, with a projected increase of over 27% to at least $1.4 trillion by 2030. This surge is linked to the AI power boom, data center construction, aging infrastructure, and climate change. Utility bills have risen approximately 40% since 2021, with no signs of slowing. The South leads in spending, with $572 billion planned, followed by the Midwest at $272 billion. Utilities have requested record-high rate hikes, reflecting the financial pressures on consumers.
Read at Fortune
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