US Utility Spending To Hit $1.4 Trillion By 2030 As AI, Data Centers Drive Demand— Rate Hikes Ahead?

Benzinga04-15 20:26

U.S. investor-owned utilities plan to spend at least $1.4 trillion on capital projects through 2030, a more than 21% increase from five-year projections outlined last year, nonprofit group PowerLines ...

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However, other factors such as aging infrastructure, climate change, increasing electrification, and population growth have contributed to a 40% increase in utility bills since 2021, “with no signs of slowing down,” as per PowerLines. In 2025 alone, utilities sought $31 billion in rate hikes, stated the report. \nPowerLines also pointed out that nearly half of all new spending is allocated for transmission and distribution, with another 30% directed towards new power generation.\n“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,” said Charles Hua, Founder and Executive Director of PowerLines\nPowerLines found that just 10 utilities account for $707 billion, about 53%, of planned five-year CapEx, exceeding their ~44% share of consumers.  While projections can shift, utilities' actual capital spending has closely matched forecasts—about 95% over the past decade, and has risen significantly, with further growth expected.\nPowerLines argues utilities should better use existing grid capacity, reducing wasted fossil and renewable energy, before building new plants, by adopting solutions like battery storage, virtual power plants, and AI-driven demand management. It also urges regulators to push cost-effective technologies that improve efficiency and lower consumer bills.\nMeanwhile, Tom Content, Executive Director of Citizens Utility Board of Wisconsin, told PowerLines that utilities are poised to profit from rising infrastructure investments. However, he urged regulators to prioritize fair pricing for consumers, amid affordability concerns.\nUnder the agreement, firms will fund their own power needs, pay for grid connection infrastructure, and potentially face separate electricity rates from consumers. Trump said the initiative would help reduce overall electricity costs.\nImage via Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2627284099","isCrawlerRequest":true}