Good morning.
Georgia, Virginia, North Carolina, and Arizona all moved against large data center load in the same week. Georgia PSC opened an investigation into whether hyperscalers are covering their fuel cost exposure or pushing it onto ratepayers. Virginia SCC is reviewing Dominion's transmission cost allocation methodology for the same reason. North Carolina watched a $19.2 billion campus withdraw after a county proposed a 24-month moratorium. Arizona lawmakers are drafting legislation to slow AI-driven development outright.
This is no longer a state-by-state story. It is a coordinated repricing of the political bargain that let hyperscale load grow without fully internalizing its infrastructure costs.
Today's issue also covers MISO declaring a maximum generation emergency during a second July heat dome, confirming the capacity gap is real and widening. Crusoe and Lancium are breaking ground on a 1 GW AI campus in Childress, Texas in Q3 with Meta as the reported anchor tenant. And FERC has a July 23 technical conference on PJM governance that could set the table for a demand response rulemaking worth watching.
There is a lot in today's issue.
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