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Utilities just became the biggest spenders in the entire U.S. economy.

Jun 21, 2026

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4 min read

Utilities just became the biggest spenders in the entire U.S. economy.

Capex was $173 billion last year. It jumps to $259 billion in 2026 alone.

The Capital Current

67 million Americans are subsidizing AI training

Jun 19, 2026

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3 min read

67 million Americans are subsidizing AI training

The grid's own watchdog says the price impacts are 'not reversible.'

The Capital Current

Your power bill is up 8.6%. The Fed just made it worse.

Jun 18, 2026

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5 min read

Your power bill is up 8.6%. The Fed just made it worse.

Maine is up 22.6%. Idaho 15.3%. And the big AI loads haven't even arrived yet.

The Capital Current

Data centers will use more electricity than France this year

Jun 17, 2026

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3 min read

Data centers will use more electricity than France this year

Gartner's June 10 report says power availability — not compute — is now what limits how fast AI can scale.

The Capital Current

Utilities are losing their biggest new customers before they even connect

Jun 15, 2026

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4 min read

Utilities are losing their biggest new customers before they even connect

Near Cheyenne, an even bigger site is in the works. Its first phase alone wants 1.8 GW.

NextEra just made the biggest utility deal in U.S. history

Jun 14, 2026

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4 min read

NextEra just made the biggest utility deal in U.S. history

Sixty-seven billion dollars buys a $138 billion rate base — and NextEra plans to grow it 11% a year through 2032.

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Nvidia says the water problem is solved. I'm not buying it.

Jun 25, 2026

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3 min read

Nvidia says the water problem is solved. I'm not buying it.

About 80% of a data center's water footprint comes from the power plant feeding it — not from the building itself.

The Capital Current

Your electric bill climbed 33% since 2019. Data centers helped push it there.

Jun 24, 2026

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4 min read

Your electric bill climbed 33% since 2019. Data centers helped push it there.

Utilities call the grid upgrades 'system benefits' — then split the tab among every home, school, and shop.

The Capital Current

FERC voted 5-0. Grid operators have 60 days.

Jun 22, 2026

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4 min read

FERC voted 5-0. Grid operators have 60 days.

All six regional grids got the same order — prove your rules still work, or file new ones.

The Capital Current