Sandeep Vaheesan warns that utility-sector consolidation will leave Americans with higher bills and no recourse.
US utilities consolidate via mega-mergers with debt-heavy models, repeating patterns that triggered antitrust breakups a century ago. AI data centers fuel consolidation with reduced oversight; infrastructure operators face rising costs and weaker negotiating leverage.
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Economics
Aug 11, 2026
Sandeep Vaheesan
A century ago, the US power industry was dominated by sprawling, heavily indebted holding companies until their collapse forced the federal government to break them up. Now, the pattern is repeating, with mega-mergers and buyouts advancing a debt-heavy business model at the expense of households and communities.
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