The total revenue for electricity generation was $514b in 2024. So this was a 4-5% increase in costs. And if it is being invested in better generation and our aging infrastructure, that seems fine.
So, you could think of it like this:
New customer: 100k-500k. Existing customers: 5% rate hike or 1M-100M/year in increased payments.
Per customer this may be minor but there are many customers.
The problem has been we have no system for proactive construction of new generation. Note: up until recently in the US demand has been mostly flat. We have been building significantly more power efficient systems so utilities did not know we would see a massive demand spike.
China somehow was able to harden against this and continued to improve infrastructure.
Like, don't get me wrong, if we want to start talking about more centralized organization of the economy that operates on the calculated total benefit it provides to people in general, I am personally all for that. But something tells me that is not quite the argument you are wanting to make here, right?
If you mean from 4% to 8%, then that's actually raising by 100%
…spread over an entire country.
I can't find anything breakdown in the article. But from what I have heard, you either live somewhere with a high concentration of new data centers and see a massive price increase of as much as 50%, or more likely you don't see any increase at all.
If.