1 month ago
Exelon Cuts Data Center Pipeline Amid AI Pushback
Exelon, a big U.S. power company, said it will build fewer new data centers for AI.
It cut its plan from 18 gigawatts to 11 gigawatts for projects that look most likely to happen.
The total future plan was also lowered from 43 gigawatts to 25 gigawatts.
The company said it is removing projects that might not get built because of local protests.
Other utilities, like California’s PG&E, are still adding more projects, showing the situation varies by region.
Exelon cut its high‑probability data‑center pipeline to 11 GW from 18 GW.
Overall future pipeline through 2027 dropped to 25 GW from 43 GW.
The cut reflects removal of speculative projects amid growing public opposition to AI facilities.
CFO Jeanne Jones said the update gives proactive insight into real projects.
California utility PG&E increased its pipeline, showing regional differences.
- Who
- Exelon Corp. and its CFO Jeanne Jones
- What
- Reduced its forecast for new data‑center projects
- Where
- Exelon operates in the Mid‑Atlantic and Midwest; the announcement was made in the U.S.
- When
- Second‑quarter earnings presentation (Q2 2024)
- Why
- Mounting public opposition to AI facilities and investor skepticism over AI spending
Key facts
- Company
- Exelon Corp.
- High‑Probability Pipeline
- 11 GW (down from 18 GW)
- Total Future Pipeline
- 25 GW (down from 43 GW)
- CFO
- Jeanne Jones
- Reason for Cut
- Opposition to AI data centers and investor skepticism
Quotes
Stephen D’Ambrisi
RBC Capital Markets analyst
“Making the bar much higher in order to connect to the grid is part and parcel of all of these ways in which utilities are trying to protect regular rate payers.”
livemint.com
“What this update reflects is we have now weeded out speculative projects, and it gives us proactive insight into what is real.”
livemint.com
Sources
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