Data center power demand drives 267% electricity cost hikes in nearby communities

Electricity costs in communities near large data center developments have risen by as much as 267% compared with 2020 levels, according to a Morgan Stanley Wealth Management report. The US hosts 5,427 AI-related facilities (45% of world's data centers), with data centers and generative AI forecast to account for 75% of incremental power load growth through 2030. Energy costs are becoming a defining political issue ahead of midterm elections. Both parties are bracing for voter backlash as utility bills rise despite record oil and gas production.

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