From Bloomberg, September 19:
Meta Platforms Inc. is pushing to break into the wholesale power-trading business so it can better manage the massive electricity needs of its data centers.
The company, which owns Facebook, filed an application with US regulators this week seeking authorization for the move. A Meta representative said it was a natural next step to participate in energy markets as it looks to power its operations with clean energy.Buying electricity has become an increasingly urgent challenge for technology companies including Meta, Microsoft Corp. and Alphabet Inc.’s Google. They’re all racing to develop more advanced artificial intelligence systems and tools that are notoriously resource-intensive.
While they consume huge amounts of electricity, big tech companies also have contracts for power that they can flip around and sell when prices are high.
“There will be opportunities to sell electricity into the wholesale markets and make a little extra money doing that,” said Pavel Molchanov, an analyst at Raymond James.
Plus, tech companies that have batteries or on-site generators at data centers can sell power from those back to the grid when prices spike, said Andy DeVries, a utilities and power analyst at CreditSights Inc....
....MUCH MORE
Related:
June 2014 - "How electricity auctions are rigged to favor industry" (EXC)
July 2024 - Electricity Trading Is Back Baby!
And dozens in-between those two.
See also: Enron
