Less Than A Minute

 

As explained in the EnergyWatch's article:

"The year-over-year inflation rate for U.S. electricity prices reached 5.9% in May, up from 3.8% in January, according to Bank of America Institute, a think tank utilizing proprietary data to develop insights into consumer behavior and the economy. Electric vehicles and heat pumps are driving consumer electricity demand higher, while industrial onshoring and the rise of data centers and artificial intelligence are also putting upward pressure on prices, the analysts said. BofA Global Research estimates AI computing will require an additional 18 GW to 28 GW of generation capacity by 2026.  Data centers could consume 9% of the United States’ electricity generation by 2030 — double the amount consumed today.  US electricity prices rise again as AI, onshoring may mean decades of power demand growth: BofA | Utility Dive"