AEP raises capital plan to $78 billion as data centre power demand skyrockets
American Electric Power on Tuesday raised its five-year capital investment plan to $78 billion, an 8% increase from a plan released three months earlier, as surging data center growth spurs the US electric utility to build out its system.
US electricity demand is hitting record highs as Big Tech companies build power-hungry data centers to support artificial intelligence, prompting utilities to ramp up investments in generation and transmission infrastructure.
