As some of us continue to calcify our brains asking ChatGPT to answer an email or blow up our lives for an AI side chick, others are paying hand over fist for it via power bills. Wholesale electricity costs have increased as much as 267 percent since 2020 in areas near data centers, and consumers are emptying their pockets for the power companies.
A very granular Bloomberg analysis of wholesale electricity prices across the country paints a picture of doubled wholesale prices and soaring consumer costs over the past five years. It’s complex, but one thing is for certain: those within 50 miles of data centers are bearing the brunt of it.
The issue is that about two thirds of the country’s power consumption runs on either a state or regional grid. This means the costs necessary for network