Executive Summary
Data centers will triple their share of US electricity consumption from 6% to 18% by 2030, creating a 150-gigawatt demand shock that fundamentally restructures utility economics. Morgan Stanley analysts identify a critical divergence: while the market focuses on aggregate infrastructure strain, the real alpha lies in geographic and regulatory arbitrage. Utilities in states with excess transmission capacity like Pennsylvania can actually reduce customer bills as data centers spread fixed costs ac...
Key Investment Opportunity
Regulated Utilities with Excess Capacity Arbitrage
Utilities operating in regulated markets with existing transmission capacity can capture data center revenue while reducing customer bills through cost spreading, providing both margin expansion and political protection
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