Jan. 16 at 8:50 PM
A new Trump administration plan to spur power plant construction for AI data centers caused shifts in electricity stocks. GE Vernova and Siemens Energy jumped 5.7–6.3% as investors expect higher demand for turbines, while existing plant owners like Constellation Energy and Vistra fell due to fears of reduced revenue.
The plan would have tech companies fund new plants through 15-year contracts, providing long-term guarantees for electricity payments and potentially stabilizing consumer bills. PJM, the Mid-Atlantic grid operator covering 13 states and Washington, D.C., would hold a special auction for big tech, expected to raise over
$15 billion for new capacity.
States including Pennsylvania, Maryland, and Virginia back the plan, which aims to meet rising electricity demand from AI data centers without burdening regular consumers. Microsoft has already pledged to fund the full costs for its data centers.
$GEV $ENR