"DTE Energy expects the 1.4 gigawatt data center campus, a $16 billion Oracle-backed project meant for OpenAI, to generate an additional $300 million in savings, allowing it to keep customer bills steady."
"DTE Energy said in a Michigan Public Service Commission filing this week that it will pause rate hikes for at least two years if the data center comes online as scheduled."
"Consumer advocates and public officials, including President Donald Trump, are calling on utilities, regulators, and Big Tech to ensure that residential homeowners and small business owners don't bear the burden of the buildout costs."
"DTE has requested a plan that would raise its average customer bill by 9.7% monthly, nearly triple the pace of inflation, beginning next year."
OpenAI and Oracle are developing a large data center in Michigan as part of the Stargate project. DTE Energy anticipates that the 1.4 gigawatt facility will help freeze electricity rates for customers if it generates sufficient revenue. The project is expected to save DTE $300 million, allowing it to maintain stable bills. However, DTE has requested rate hikes to fund infrastructure improvements. Consumer advocates are concerned about the financial impact on residents and small businesses due to rising electricity costs driven by Big Tech's demand.
Read at www.businessinsider.com
Unable to calculate read time
Collection
[
|
...
]