Sabree Beneshour

So it costs a lot of money just to replace and repair and modernize our grid infrastructure.

So it costs a lot of money just to replace and repair and modernize our grid infrastructure.

For years, there was underinvestment in the power grid as a way to keep prices down, according to Thomas Rollins-Reese, head of power market analysis at Bloomberg.

For years, there was underinvestment in the power grid as a way to keep prices down, according to Thomas Rollins-Reese, head of power market analysis at Bloomberg.

Underinvestment in the grid hasn't been a problem because U.S.

Underinvestment in the grid hasn't been a problem because U.S.

power demand has been stagnant.

power demand has been stagnant.

U.S.

U.S.

power demand is definitely not stagnant anymore.

power demand is definitely not stagnant anymore.

And the long-delayed upgrade bill is catching up with all of us, he says.

And the long-delayed upgrade bill is catching up with all of us, he says.

Dan Pickering is co-founder of Pickering Energy Partners.

Dan Pickering is co-founder of Pickering Energy Partners.

Just from population growth, reshoring of industrial activity, and just more things that are electric, like cars.

Just from population growth, reshoring of industrial activity, and just more things that are electric, like cars.

Add on top of that data centers, and demand growth is expected to increase from 1.5% to 2.5% each year.

Add on top of that data centers, and demand growth is expected to increase from 1.5% to 2.5% each year.