Utility Bills To Rise 35%
“We’ve never produced more energy than we’re producing now, but Americans’ energy bills are up over 35%,” EQT Corp. Chief Executive Officer Toby Rice told Bloomberg. And, this production must be underwritten. The most likely choice is customers, who have already begun to be hit by higher charges. And, those are likely to rise by 35% in less than a decade.
There is one, almost certainly, way to keep the increase much lower. That is the use of natural gas, which is a major greenhouse gas creator. It is part of the tradeoff that has begun. Electricity use in the US rose very little from 2000 to 2022. That has changed completely and will change more.
Where Does The Money Come From?
The growth of data center electricity needs has become a central focus of the conversation about global warming. The world’s largest tech companies are not going to take their foot off the move to AI. They are competing with one another for market share in what may be the most important technology created in decades. They have unlimited financial resources, but encourage utilities to turn to residential customers to foot the bill.
Many utilities are regulated, so increases may not occur quickly, if at all. However, capacity expansion has to come from somewhere, and there is no reason to believe regulators or the government are going to prevent that wave of the future.
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