Insight
Fuelling AI's Appetite: Benchmarking US thermal generation portfolios
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
As power demand from AI data centres accelerates, US thermal generators are racing to expand gas capacity and secure long-term hyperscaler partnerships. This report benchmarks the strategies of the top 10 US thermal power generators—from regulated utilities to merchant players—covering portfolio mix, capex plans, M&A activity, and financial positioning. It examines how companies like NextEra, Constellation, Vistra, and Dominion are balancing growth ambitions with leverage and market pricing pressures through 2030.
Table of contents
-
Executive Summary
- Companies position for robust power demand growth from AI
- Top thermal power generators add 50 GW of gas capacity by 2030
- Split investment strategies between regulated and merchant
- Market demonstrating a preference for regulated over merchant
- The NextEra-Dominion deal highlights the importance of M&A
- Long-term partnerships will be critical to delivering growth
Tables and charts
This report includes the following images and tables:
What's included
This report contains:
