The American utility company's capital spending plan for the next five years is set to surge to $1.4 trillion due to AI power demands and an aging power grid.

The latest forecast report released last week by PowerLines, a nonprofit organization of energy consumers, stated that large utility companies in the United States with investor ownership have significantly increased their capital expenditure plans for the next five years by over 20%. This is because they are seeking to upgrade their aging power grid systems and are committed to meeting the continuously rising power demand brought on by the unprecedented boom in AI data center construction. PowerLines stated that the organization reviewed the quarterly earnings conference calls of 51 large utility companies in the United States, and predicted that these utility companies plan to spend a cumulative total of $1.4 trillion by 2030, significantly higher than the approximately $1.1 trillion capital expenditure plan expected last year.