Six states push back on utility hikes tied to AI boom
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Officials from Arizona, Indiana, Maryland, New Jersey, New York, and Pennsylvania are opposing utility rate hikes linked to increased power demand from AI. Investor-owned utility profits surged from $39B in 2021 to $52B in 2024, raising concerns over guaranteed returns amid rising costs. This coordinated push may lead to reforms in utility business models and impact future grid investment financing.
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