US Natural Gas Power Is Booming Thanks to AI

US power companies plan the most new natural gas capacity in years, driven by rising electricity demand from the AI boom.

U.S. power-generating companies are announcing plans for the highest volume of new natural gas-fired capacity in years as the AI boom is driving demand for electricity.

During the first half of 2024, electricity-generating firms unveiled plans for the new gas-powered capacity equal to all capacity announced in 2020, according to data from Sierra Club cited by Bloomberg.

The increase in gas-fired generation jeopardizes the current U.S. emissions and ‘clean grid’ goals.

Natural gas-fired electricity generation in the United States has jumped year-to-date compared to the same period last year, as total power demand rose with warmer temperatures and demand from data centers.

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Source: Oil Price

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