Global Energy Weekly: US power can’t duck out of AI

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Global Energy Weekly: US power can’t duck out of AI

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Global Energy Weekly

US power can’t duck out of AI

Data centers spur US load growth and voter concerns 19 May 2026

ERCOT and PJM reserves are likely adequate this year, but system risks could increase Commodities

in the coming years (see report: Mind the inertia gap for a European perspective) as Global

loads grow, fossil power plants retire, and weather-dependent resources like solar Global Commodity Research

energy are added. Data centers accounted for ~4% of total US load in 2025, and data BofA Europe (Madrid)

center share of load could more than double by 2030. Connecting data centers is getting Clifton White

plenty of attention at the national level with FERC Chair Laura Swett recently Commodity Strategist BofAS

questioning whether the existing PJM process can adapt quickly enough to integrate +1 713 247 6812

these large loads (see report: Watt’s happening in PJM (and FERC)?). Voters are taking Francisco Blanch

notice too and we expect data centers to be an important campaign issue this fall. Commodity & Deriv Strategist BofA Europe (Madrid)

Electricity inflation has increased at about double the overall CPI during the past year +34 91 514 3070

and recent Gallup polls show Americans oppose data center construction in their area Noah Hungness

even more than nuclear power plants. CommodityBofAS Strategist

+1 832 341 5807

Solar additions exacerbate ERCOT duck curve risks… Rachel Wiser

Last fall we were concerned that solar and battery additions could weigh on ERCOT CommodityBofAS Strategist

prices (see report: Gas and power deep in the heart of Texas) and on-peak summer 2026 +1 646 743 4069

prices have declined ~30% since September. Although there could be more downside for Michael Widmer