FirstEnergy Reports Significant Growth in Data Center Contracts
FirstEnergy reported a 50% increase in its contracted data center load during the second quarter, reaching 6.4 GW of expected service by 2035. The company also anticipates signing an additional 1.5 GW within two weeks, according to CEO Brian Tierney. Total data center demand, including potential customers, rose 30% in Q2 to 24.8 GW, driven largely by its Ohio territory. The utility is expanding transmission infrastructure and planning new power generation for these clients. Monongahela Power and Potomac Edison are seeking approval from the West Virginia Public Service Commission (PSC) to build a gas-fired plant and solar projects totaling 1,270 MW at an estimated cost of $2.68 billion. The project is intended primarily to serve data centers but includes plans for customer surcharges that could raise residential rates by about 2.3%. FirstEnergy has also signed the White House’s Ratepayer Protection Pledge to shield existing customers from costs related to new infrastructure and power supply for data centers. However, a coalition of groups is opposing the proposed rate increases due to concerns over speculative nature and delays in project timelines.
Tickers: $FE
Topics: data centers energy demand utility growth