Investment Grade Utilities: Utilities and Power Weekly

Research evidence excerpt

Investment Grade Utilities: Utilities and Power Weekly

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Investment Grade Utilities

Utilities and Power Weekly

Takeaways from Energy and Power Credit Conference 08 June 2026

We moderated a Power Industry Dynamics panel with Ross Fowler, our North American High Grade Credit

Power & Utilities Analyst and Clifton White, Commodities Strategist at the 14th Annual United States

Energy and Power Credit Conference. Among other things the panel highlighted Utilities

affordability concerns remain a headwind but datacenter development continues.

Hyperscalers continue to prioritize speed to power over price and efficiency. In Table of Contents

unregulated markets like PJM and ERCOT, data center demand has provided upward Top Headlines, week ending Jun 5th 2

pressure on power pricing. However, in most regulated markets, data centers are able to

Sector Performance 4

lower ratepayer bills as fixed costs are spread across more volumes and datacenters pay

Utility Comps 6

a higher price for their power needs. Political rhetoric around affordability is most

concentrated in areas with close elections. Ohio, Georgia, Virginia, New York, North Independent Power Producer and YieldCo Comps 15

Carolina, South Carolina, and Oklahoma were highlighted as areas with enacted or IG Utility Bonds Issuance 16

proposed legislation that is slowing the data center buildout. States with friendlier Utility Bond Performance Last Week 18

political environments and existing infrastructure to support data center growth include Utility Bond Performance YTD 19

Texas, Indiana and Iowa. The states that want the tax base and economic development Utility Equity Performance Last Week 20

are where the hyperscalers are likely to locate and there are states that are welcoming Appendix 21

development.