U.S. power providers are requesting significant rate increases, totaling $29 billion for the first half of 2025, a 142% increase year-over-year, according to a Financial Times report. This surge is driven by the escalating demand from data centers powering AI systems. The proposed rate hikes aim to fund necessary infrastructure upgrades to support this growing energy consumption. Consumers are likely to see higher electricity bills as a result of these investments in grid modernization to meet the demands of the AI boom.