By Claudia Assis and Andrew Keshner

Three-quarters of Americans say their home-energy costs have climbed in recent years

Energy affordability is a political flashpoint amid surge in demand.

As NextEra Energy and Dominion Energy announced plans to merge Monday, the potential rise of a utility giant has investors cheering and consumer advocates concerned - and it's underscoring the two shockwaves coming for America's electric bills these days.

There's surging power demand - mostly due to massive build-out in data centers to fuel AI - that's upended a once sleepy corner of the market. Now, Wall Street is poring over which companies will be the winners in the race to meet that increased demand.