Data centers and cryptocurrency mining in Texas drive strong power demand growth
eia | Source: EIA | Posted 10/04/2024
We use the information from ERCOT about current and future LFL demand in developing our STEO forecasts of regional electric load. We assume that by the end of 2025 ERCOT will have approved operations of 9,500 MW of LFL demand capacity, which would be 73% more than is currently approved (5,479 MW of which 1,570 MW was approved over the past 12 months).
AI generated summary
Electricity consumption is rapidly increasing in Texas, particularly driven by large computing facilities like data centers and cryptocurrency mining operations. The Electric Reliability Council of Texas (ERCOT) expects a 60% surge in demand from large flexible load customers in 2025. These facilities consume massive amounts of electricity and contribute to the overall growth in electricity demand, projected to rise by 5% between 2024 and 2025 in ERCOT.
To address the uncertainty surrounding future levels of large-load demand, ERCOT has established approvals and voluntary curtailment programs. Different scenarios have been modeled to analyze the potential effects on power generation, with natural gas accounting for a significant portion of ERCOT's electricity generation. Wholesale power prices are expected to fluctuate based on the levels of large-load demand, with anticipation that the LFL program can help manage potential spikes in prices due to increased demand.
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Source Link: https://www.eia.gov/todayinenergy/detail.php?id=63344
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