Senator Elizabeth Warren is turning her attention to a corner of the market where artificial intelligence hype meets old-fashioned infrastructure: the power grid. The Massachusetts Democrat is pushing for transparency around private equity firms snapping up utility companies, arguing that the AI data center boom could stick ordinary consumers with the bill.
Warren’s concern is straightforward. AI data centers are hungry for electricity, private equity firms see an opportunity in owning the companies that supply it, and the people paying monthly utility bills might end up subsidizing the whole arrangement.
The utility land grab
The numbers paint a clear picture of why private equity is interested. According to the International Energy Agency, global data center electricity demand is projected to surge by 130% by 2030.
Warren has pointed to specific deals that illustrate the trend. Blackstone is reportedly acquiring TXNM Energy, a utility serving roughly 800,000 households across New Mexico and Texas. BlackRock has drawn similar scrutiny for its utility investments.
