Daily on Energy: Duke Energy CEO talks data center costs
Duke Energy CEO Harry Sideris claims that data centers will provide cost savings to customers, not higher electricity bills, due to policies requiring developers to pay for infrastructure upfront. This comes as House lawmakers prepare to vote on the Ratepayer Protection Act, a federal bill designed to shield households from rising energy costs related to data centers.
Duke Energy CEO and President Harry Sideris asserted that data centers, despite their high power consumption, will ultimately lead to cost savings for customers. Speaking at the Washington Examiner’s D.C. offices, Sideris addressed concerns that the rapid build-out of data centers would inflate electricity prices, calling such beliefs "misinformation and misunderstandings." He highlighted Duke Energy's policies, including a new Customer Protection Plus Framework, which requires data center projects to cover all necessary infrastructure costs, provide deposits, and sign long-term contracts with termination clauses to prevent stranded assets. Sideris estimates that each gigawatt of data center capacity added to Duke’s portfolio could save customers $1 billion over the contract's life, with 6 gigawatts projected for North and South Carolina alone within Duke's multi-state service area.
Meanwhile, House lawmakers are slated to vote on the Ratepayer Protection Act, a bill aimed at protecting households from increased energy costs linked to data centers. Led by Republican Rep. Gabe Evans of Colorado and co-sponsored by Democratic Rep. Kathy Castor of Florida, the legislation would mandate state regulators to establish standards for new data centers and hyperscalers consuming over 100 megawatts. These standards would require such facilities to cover the costs of new generation, transmission, and infrastructure upgrades.