Jigar Shah

You know, I think people want to blame data centers, and data centers are important, but a lot of people want to store their photos forever of their children, right? And so they pay the extra $2.99 a month to do that stuff. And make no mistake, most of the load growth in the data center side is still cloud-based. AI is coming, but it's not yet the dominant thing that's going in.

You know, I think people want to blame data centers, and data centers are important, but a lot of people want to store their photos forever of their children, right? And so they pay the extra $2.99 a month to do that stuff. And make no mistake, most of the load growth in the data center side is still cloud-based. AI is coming, but it's not yet the dominant thing that's going in.

Most of it is light manufacturing, heavy manufacturing, EV and, you know, heat pumps and all sorts of other stuff. Right. And so we have multiple solutions to load growth. But I think it's important to recognize that we have just had so much winning.

Most of it is light manufacturing, heavy manufacturing, EV and, you know, heat pumps and all sorts of other stuff. Right. And so we have multiple solutions to load growth. But I think it's important to recognize that we have just had so much winning.

Like so many people have chosen the United States as their place to commercialize their technology and not just American innovators and entrepreneurs, Japanese and Korean innovators and entrepreneurs, European innovators and entrepreneurs. Everyone is choosing America to scale up their technology. And that is awesome. And that's where the load growth is coming from.

Like so many people have chosen the United States as their place to commercialize their technology and not just American innovators and entrepreneurs, Japanese and Korean innovators and entrepreneurs, European innovators and entrepreneurs. Everyone is choosing America to scale up their technology. And that is awesome. And that's where the load growth is coming from.

Well, I think we have to take one step back. I think there's a recognition by all the hyperscale data center companies that their power demand is uniquely harmful to the cost of electricity. And so I think there is a recognition by the hyperscale data center companies that they do not want to pass the costs of their data centers on to poor people like, you know, was happening in the past.

Well, I think we have to take one step back. I think there's a recognition by all the hyperscale data center companies that their power demand is uniquely harmful to the cost of electricity. And so I think there is a recognition by the hyperscale data center companies that they do not want to pass the costs of their data centers on to poor people like, you know, was happening in the past.

Not that they were wanting to do that, but the utilities sort of offered them an industrial rate. And so there is an awakening by the hyperscale data center companies and the governors and the public service commissions and the utilities to say, okay, hey, wait a second, if these guys are going to cost so much to serve, we should make them pay full freight.

Not that they were wanting to do that, but the utilities sort of offered them an industrial rate. And so there is an awakening by the hyperscale data center companies and the governors and the public service commissions and the utilities to say, okay, hey, wait a second, if these guys are going to cost so much to serve, we should make them pay full freight.

And it turns out that after Microsoft, Google, and Nucor did this massive request for information and they got, and they went through them all, that nuclear was one of the cheapest options that they could pursue to not pass costs on to the rest of the ratepayers.

And it turns out that after Microsoft, Google, and Nucor did this massive request for information and they got, and they went through them all, that nuclear was one of the cheapest options that they could pursue to not pass costs on to the rest of the ratepayers.

Well, look, I think today when you look at how much new capacity we need to build, people are saying we need everything. There is no way for us to meet this just with solar, wind and battery storage. And we will do as much solar, wind and battery storage as we can. And we will still need nuclear and enhanced geothermal and other technologies.

Well, look, I think today when you look at how much new capacity we need to build, people are saying we need everything. There is no way for us to meet this just with solar, wind and battery storage. And we will do as much solar, wind and battery storage as we can. And we will still need nuclear and enhanced geothermal and other technologies.

But more importantly, I think the Department of Energy has done tons of modeling work, and it shows if you can maintain that 20% nuclear that we've had for many years... it is so much cheaper to run a decarbonized grid with all that nuclear. And so people are now starting to recognize that instead of thinking just about levelized costs of energy, you have to think about the entire system cost.

But more importantly, I think the Department of Energy has done tons of modeling work, and it shows if you can maintain that 20% nuclear that we've had for many years... it is so much cheaper to run a decarbonized grid with all that nuclear. And so people are now starting to recognize that instead of thinking just about levelized costs of energy, you have to think about the entire system cost.

That also includes deploying technologies that we invented 20 years ago around grid modernization and dynamic line ratings and topology mapping and all the things that we need to do to get 50% more capacity out of the grid that we already paid for.

That also includes deploying technologies that we invented 20 years ago around grid modernization and dynamic line ratings and topology mapping and all the things that we need to do to get 50% more capacity out of the grid that we already paid for.

It also means that all of these smart appliances that we've had for three or four years now, where even my humidifier comes with an app on it, you can use that to connect it to demand flexibility programs, and you can give people a 20% discount on their bill to allow their demand to be more flexible. So your water heater doesn't have to heat up that water right after you finish your shower.

It also means that all of these smart appliances that we've had for three or four years now, where even my humidifier comes with an app on it, you can use that to connect it to demand flexibility programs, and you can give people a 20% discount on their bill to allow their demand to be more flexible. So your water heater doesn't have to heat up that water right after you finish your shower.