Goldman Sachs projects US electricity prices will climb about 6% annually in 2026 and 2027, driven by surging power demand from AI data centers. Residential prices already rose 6.9% in 2025, more than double the 2.9% inflation rate.
February 2026 · Goldman Sachs Research
The AI Power Bill Lands on Your Doorstep
Surging electricity demand from generative-AI data centers is projected to push US household power prices up an extra 6% a year through 2027 . In 2025, electricity already rose 6.9% — more than double the 2.9% inflation rate.
+6%
Extra annual rise in household power prices through 2027
6.9%
2025 electricity rise — vs 2.9% inflation
44%
Of US load growth 2023–28 from data centers
267%
Wholesale price jump near dense data-center areas (5 yrs)
Data-Center Power Demand Nearly Doubles
Bloom Energy forecast — gigawatts (GW)
By 2028, data centers could draw 6.7–12% of all US electricity (DOE estimate).
One household, one month
In Manassas, Virginia — a data-center hotspot — a 40-year resident's January 2026 bill jumped to a level he'd never seen before:
→
"Field of Dreams" building rush — passing the burden onto local residents.
+$18/mo
Avg. bill increase, western Maryland
+$16/mo
Avg. bill increase, Ohio
+70%
ERCOT (Texas) demand outlook, 6 years
$9.3B
PJM grid added capacity cost, 2025–26
Longer-term relief
New generation investment could stabilize prices. Bain expects roughly a 1% annual bill rise through 2032; regulators are advancing large-load tariffs to keep costs off existing customers.
Near-term strain
A CMU model projects an 8% rise in national generation cost by 2030 — over 25% in some regions. Worries are spreading: the UK is projected +9% by 2040 (Aurora), with grid reliability in question.
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