The U.S. power market is poised for a major shake-up as consumption is soaring amid the AI technology boom. The surge in power demand, led by data centers, has started to create winners in the American electricity sector. Expectations of booming consumption in the coming years are raising wholesale and retail power prices, pushing up profits for power-generating firms and utilities, and raising household bills for consumers. The AI-led jump in power demand could also kick-start legislative changes in some states that could allow utilities to own…
