US Energy Market Faces Data Center Boom, Fusion Breakthroughs & Offshore Wind Rollbacks
1.) American Electric Power anticipates its utilities will add 24 GW of new demand by 2030 — with 18 GW of that represented data centers. 13 GW is in ERCOT market – with 5 of that crypto load, 9 GW in PJM and about 2.5 GW in SPP. PJM load includes 3.7 GW in Ohio and about 3.1 GW of data centers in Indiana Michigan Power’s (IMP) service territory.
2.) Google agrees with two utilities – IMP and Tennessee Power Authority – to dial back power consumption when needed during periods of high load on the grid.
3.) DTE is in “advanced discussions” with data center hyperscalers for 3+ GW of data load that has access to land, while also discussing an additional 4 GW of potential load working to finalize control of real estate.
4.) A recent Department of Energy order requiring Consumers Energy’s Michigan coal plant to continue running beyond its scheduled its retirement date cost the utility $29 million over just five weeks, according to a recent SEC filing.
5.) Fusion start-up Helion commences work on an initial fusion generation plant in Washington state. The company’s goal is to deliver power by 2028, well ahead of any competitors.
6.) The Trump Administration’s Bureau of Ocean Energy Management is rescinding all offshore designated wind energy areas citing DOE order
“Ending Preferential Treatment for Unreliable, Foreign Controlled Energy Sources in Department Decision-Making” – and the Presidential Memorandum of January 20, 2025 – Temporary Withdrawal of All Areas on the OCS from Offshore Wind Leasing and Review of the Federal Government’s Leasing and Permitting Practices for Wind Projects.
7.) The move affects over 3.5 million acres of unleased federal waters in the Gulf of Mexico, off of Maine, the New York Bight, California, Oregon, and the Central Atlantic.
8.) Sodium ion battery start-up Peak Power ships first salt-based battery system, at 3.5 MWh to be used in a shared pilot project with nine utilities and independent power producers. Peak is currently building its first U.S. cell factory, and expects to begin producing batteries by next year.