EIA: US power consumption will surpass previous records in 2026 and '27, as AI usage surges.
The Energy Information Administration's Short-Term Energy Outlook released on Tuesday said that the U.S. electricity consumption will continue to rise in 2026-2027 due to data centers with AI and electrification. EIA predicted that power demand would rise from 4,195 billion kilowatt hours (kWh) at a record in 2025, to 4,271 kWh?in?2026, and 4,397 kWh in '2027.
EU sets energy standards for data centers amid concern over rising power consumption
On Wednesday, the European Union announced that it would develop minimum energy efficiency?standards? for data centers, as concern grew over their rapid rise in power consumption. EU data center capacity is expected double over the next few years to 28 gigawatts in 2030, up from 12 GW. This expansion will increase their share in EU electricity consumption above the current 2.5%.
India struggles with power cuts after heatwave increases electricity demand
India is experiencing power outages in some areas due to record-breaking heat. The government has asked consumers to 'limit their use'. Residents in Chennai's manufacturing and information technology hub said that El Nino is causing temperatures to be above average in the summer months of May. Nighttime power outages can last from 40 minutes up to an hour. South Chennai has experienced frequent power outages?over the last two days.
Maguire: The NextEra-Dominion AI deal is not the last.
AI isn't just a way to increase electricity demand, it also resets the minimum scale for power supply. The proposed tie up between NextEra Energy and Dominion looks less like an one-off deal and more like a model. The $67 billion merger of two U.S. companies into one of the?world's largest energy producers is a sign that utilities must consolidate in order to build and finance the massive electricity networks needed to?run the U.S.
Public Service Enterprises top profit estimates after winter storm increases gas and power demand
Public Service Enterprise Group surpassed Wall Street expectations?for the first-quarter profits on Tuesday as the 'U.S. Electric and gas utilities benefited from the extreme winter weather, which boosted demand for their?electrical and gas businesses. PSEG CEO Ralph LaRossa stated that the worst winter storm for 30 years, coupled with temperatures in single digits, led to its highest gas usage since 2019. The U.S.
DTE Energy's energy trading unit is losing money, and it missed the quarterly profit estimate.
DTE Energy, a utility in the Midwest of the United States, missed Wall Street's expectations for first-quarter profits on Thursday. This was due to a swing from a profit to a loss at its energy trading business. DTE has announced that it will invest $6 billion over the next year in order to improve its infrastructure, including its electric and natural gas utilities. U.S.
NextEra tops profit estimates on strong power demand, renewables growth
NextEra Energy surpassed Wall Street's?estimates of first-quarter adjusted profits?on Thursday. This was due to strong electricity demand, growth in its renewables business and the?storage division. In premarket trading, shares of the?company? rose by 1.4%. The rising demand for electricity in the United States, driven by electrification trends, population growth and data centers…
Fervo Energy reports revenue growth in US IPO filing
Fervo Energy filed paperwork on Friday to?file for an initial public offering in the United States. The geothermal developer is seeking to tap into the capital markets amid rising energy prices. The Houston-based company reported a loss of 57.8 millions dollars on revenues of 138,000 dollars for the fiscal year ending December 31, 2025. This compares to a loss of 41.1 million dollars on revenues of 199,000 dollar a year ago.
X-Energy, a developer of nuclear reactors, aims for a valuation of $7.5 billion in its US IPO
X-Energy, backed by Amazon, said Wednesday that it aimed to achieve a valuation?of up to $7.51billion in its initial IPO?in the?United?States. The Maryland-based nuclear reactor developer is looking to raise up to $814,3 million by selling approximately 42.9 million shares at a price between $16 and $29. The nuclear energy industry is experiencing a revival…
Grid operators claim that Britain will still have enough electricity this summer, despite the turmoil in Iran
The network operators in Britain said that the country will have enough electricity and gas this summer, despite a decline in domestic gas production, and fears over Middle East energy supplies. The conflict in the Middle East disrupted energy shipping through the Strait of Hormuz, and Qatari LNG production was halted. This accounts for about a fifth of the global supply of liquefied gas.
India reduces special excise duty on petrol and diesel
India has slashed the special excise duty on 'petrol and diesel' as fuel prices remain volatile, with supplies being?stifled by the Iran war. The Indian Finance Ministry reduced the special excise tax on petrol from 13 rupees per litre to 3 rupees (US $0.0318) in a government order issued Thursday. The duty on diesel was also reduced to zero rupees from 10 rupees. The U.S.
Helsinki Energy Group plans to invest heavily in small nuclear reactors
Helen, the city's energy utility, plans to invest between $1.16 billion and $5.78 billion in Small Modular Reactors in the next few years. This was revealed by the head of the newly-established nuclear division. Helsinki isn't?alone? in pursuing new nuclear generation. Countries from the United States and South Korea to companies like Meta are turning…
OECD: Nuclear and onshore wind are the cheapest ways to meet Sweden's energy needs
The OECD Nuclear Energy Agency stated on Wednesday that expanding nuclear and onshore winds power was the cheapest option for 'Sweden' to meet its surging electricity demands, with no?place left for offshore wind. Sweden aims to achieve a 'net zero emission level by 2045. Electricity demand will double as industries like steel and transport switch to cleaner energy.
Portugal's EDP CEO: Data centre boom in Iberia to be supplied by EDP
EDP, Portugal's largest utility, is stepping up to meet the demand for data centres in Iberia. The company was attracted by electricity prices that will remain low in comparison to other parts of Europe. He said that over 18 gigawatts in data centres in Portugal and Spain are in development or pipeline, "supporting the strong electricity demand in Iberia", driven by structural factors, not temporary ones.
The US AI boom is facing an electric shock
The race for artificial intelligence dominance by Big Tech may hit a snag soon as U.S. power grids struggle to keep up with hyperscalers who spend a lot of money. Microsoft, Amazon Alphabet, and Meta are among the technology giants in America that have announced in recent months plans to spend over $600 billion in AI by 2026. Investors are already unsure about the viability of this strategy due to the investment wave.
EDF, France's EDF, aims to boost electricity demand while low prices hurt profit
EDF, the French state-owned utility, expects its profit to fall again this year due to low electricity prices. This will put pressure on EDF ahead of major investments in its nuclear reactor fleet. EDF, France's largest power producer, operates in a market that is significantly oversupplied. Benchmark power prices have recently reached their lowest level since the COVID-19 epidemic began in 2020.
Triso-X can use HALEU uranium to make reactor fuel
The U.S. Nuclear?power regulator announced on?Friday that it had issued a license to?Triso X for the use of a more-enriched uranium, known as HALEU, for making a fuel for high-tech commercial nuclear reactors. Triso-X is a subsidiary company of X-energy and plans to manufacture TRISO fuel in Oak Ridge Tennessee. This fuel contains uranium that has been coated with hard ceramics and carbon layers. Ho K.
Carbon weighs down on prices for the front year but spot prices are up because of less wind
German and French spot electricity prices rose Thursday morning, amid predictions of a?lower wind power generation. Meanwhile, a steep?drop in the European Carbon Market weighed on long-term prices. The French 'day-ahead' baseload power contract rose by 39.70 euros, to?54.25 euros per megawatt (MWh), at 1007 GMT. Meanwhile, the German contract had risen 3.50 euros, to 107 euros/MWh.
China's coal production in 2026 is expected to grow at the slowest pace this decade, despite lower imports
A major coal industry group announced?on? Tuesday that China's coal production is expected to increase by 35 million metric tones to 4.86 billion tons in 2026. This would be the slowest rate this decade, despite?projections? of a second consecutive drop in annual imports as a result of Indonesia, its top supplier, ceasing spot exports. China Coal…
Maguire: Australia's renewable energy boom will deliver a coveted price for power
Australia's wholesale power prices dropped to their lowest level in four years by 2025. This bucking of rising prices elsewhere, and proving that renewables-intensive power systems can lower power costs for consumers. The increased battery storage capacity, and the solar farms could allow utilities to reduce operating costs. These savings may be passed on to businesses and households as early as this year.
