"By 2030, investor-owned utilities are on track to spend $1.4 trillion on capital expenditures, according to a new report from PowerLines, a consumer education nonprofit."
"Duke Energy plans to spend $102.2 billion in capital expenditures by 2030, the most of any investor-owned utility in the US, driven by increased electricity demand."
"In the US, investor-owned utilities often seek state regulators' approval to recoup their high infrastructure costs from their customers, with electric and gas utilities seeking to raise customer bills by $31 billion in 2025."
Utilities in the US are investing heavily to meet the electricity demands of AI and modernize the aging electric grid. By 2030, investor-owned utilities are projected to spend $1.4 trillion on capital expenditures, surpassing the $1.3 trillion spent over the last decade. Key players like Duke Energy, Southern Company, and American Electric Power are leading this investment. Increased electricity demand from data centers is driving the need for extensive new infrastructure, with utilities seeking to raise customer bills significantly to cover these costs.
Read at www.businessinsider.com
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