National Grid New York President Sally Librera Talks Energy Demand and Costs
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It was a report in the Albany Times Union, and they said over the weekend, national grid and other utilities are spending billions of dollars to prep New York's electric grid for a generational shift, and it includes things like all those AI data centers that are being built in the state and across the country, really.
Yeah, the paper went on to note that New York utilities are spending that much money to modernize the grid for those facilities. Their investments for New Yorkers, many of them are already struggling with utility costs, are going to have to pay for that in the coming years. But the idea is that we're prepping it for the future.
Exactly. Exactly. But so how uncomfortable as the build out happens and the stress on the grid continues. Let's see what our next guest has to say. We've been looking forward to this. Sally Librera is president National Grid New York. It's a subsidiary of the publicly held electricity, nat gas and clean energy utility National Grid Foundation. PLC serving millions in New York and Massachusetts. National Grid ADRs trade in the US. They've got about a $75 billion market cap. They're up more than 27% year-to-date. So nice to have you here. How are you? Great to be here. Thanks, Carol and Tim, for having me. Well, it's great to have you here. How would you describe power demand today and how that demand is growing, surging?
Use whatever word makes sense so that we understand. What's the current situation?
Sure. So at National Grid in New York, we serve more than 4 million customers, and we deliver natural gas and electricity to those customers, and our focus is on doing it safely, reliably, and affordably. But the reality is there is increasing demand for energy across the entire state, and we serve through upstate, we serve in Long Island, and we also serve in New York City. And it's our job to deliver that energy, to meet that energy demand where, when, and how folks need it.
What is the current state of energy demand in New York?
How would you quantify that demand, though? Give us some idea, because we're talking nonstop about deals of AI data centers, whether it's New York or elsewhere. Give us an idea. How stressed is the situation?
So we work with our New York independent system operator, the NISO. And NISO manages what we call the large load queue. So it's essentially the companies that have indicated wanting to hook into the New York grid that have large power needs. And they estimate that the cumulative power need across those companies that are essentially in line to connect sometime over the next five or so years is about 10 gigawatts of energy. And so just to give you some context, at our peak in New York, we demand about three times that across the entire state. And another really important point is that one year ago, that queue was one third the size. It literally tripled in just one year.
All data centers?
No, not all data centers.
What is it then? Because it does seem like for many years, we thought that power demand across the country would actually stay relatively flat. And it did stay relatively flat. But just in recent years, we've seen so much of an uptick in demand. What are you seeing on your grids?
Well, there definitely is the impact of data centers. But New York is also very attractive to manufacturing and large scale manufacturing, particularly some of the modern manufacturing we see around semiconductors and computer components. It's very energy intensive and companies with big power needs are drawn to New York.
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