Utility bills spike as power-hungry AI data centers boom, Bank of America report finds

Business

The rapid rollout of power-hungry AI data centers could be straining the US energy grid and causing utility bills to spike – and prices could get worse in the coming months, according to economists. Americans spent 3.6% more on electricity and gas in the third quarter of this year than they did during the same time last year, according to a study led by Bank of America economist David Tinsley . Taking a longer view, electricity prices rose 5.1% over the past 12 months through September, while

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