Groups Fight BlackRock’s Planned Takeover of AES
Consumer groups, led by the Citizens Action Coalition, have filed a complaint with the Federal Energy Regulatory Commission to block BlackRock's planned acquisition of AES, the parent company of AES Indiana. They argue the deal could violate federal law and lead to higher electricity bills for 500,000 customers. This action comes amidst a surge in proposed AI data centers in Indiana, which are driving up electricity demand and have prompted at least 17 counties to enact project moratoriums.
Consumer groups, including the Citizens Action Coalition, are urging federal regulators to scrutinize BlackRock's proposed takeover of AES, the parent company of AES Indiana. The groups have filed a complaint with the Federal Energy Regulatory Commission (FERC), contending that the deal could contravene federal law and result in increased electricity costs for approximately 500,000 AES Indiana customers. Kerwin Olson, Executive Director of the Citizens Action Coalition, expressed concerns that BlackRock's profit-driven objectives could negatively impact consumers, as FERC has yet to determine if it will investigate the complaint.
This regulatory challenge emerges as Indiana experiences a significant increase in proposed AI data center projects, which are known for their substantial electricity consumption. Over the past two years, roughly 60 data center projects have been proposed across the state, prompting at least 17 counties to implement temporary pauses on new developments to assess their impact on power demand, land use, and costs.
Indiana Senator Todd Young has voiced support for lower electricity bills for Hoosiers, indicating a willingness to collaborate with federal regulators if necessary. Furthermore, Governor Mike Braun, alongside 22 other Republican governors, has backed President Trump's proposal to mandate that data center companies bear the full cost of their electricity usage. AES anticipates the sale to BlackRock will finalize in late 2026 or early 2027.