US utilities have committed to 116 GW of large load capacity growth, equal to 15.5% of current US peak demand

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US utilities are planning a substantial increase in large load capacity, with commitments totaling 116 gigawatts (GW), which represents 15.5% of the current US peak demand. According to a Wood Mackenzie report, when including projects in advanced discussions or near-term forecasts, this figure rises to 147 GW, or 20% of peak demand. A significant portion of this capacity is expected to come online by 2030, with 60 GW projected to be added, while utilities anticipate 93 GW operational by 2035.

The report highlights a shift in project locations, with a growing concentration of committed capacity in deregulated markets such as ERCOT and PJM. This trend raises concerns about potential supply inadequacies and price increases for non-large load customers, prompting market interventions. Additionally, the report notes increasing uncertainty in the pipeline for new capacity, as new requests are outpacing advancements on existing ones, particularly in the context of data center developments, which can significantly affect the timeline for load integration into the grid.