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FirstEnergy sees 50% jump in data center contracts in Q2
FirstEnergy said it expects to sign deals for another 1.5 GW of data center load within two weeks, bringing its contracted load to 6.4 GW by 2035.
FirstEnergy reported that its utilities have contracts to serve 6.4 GW of data center load by 2035, up 50% from the first quarter, and the company expects to add deals to serve another 1.5 GW within two weeks, according to Yahoo Finance citing remarks from CEO Brian Tierney during an earnings conference call.
The company also said its total data center demand, including its pipeline of potential customers, increased 30% in the second quarter to 24.8 GW, led by its Ohio service territory, based on an earnings presentation.
FirstEnergy further said its data center contracts and contract pipeline total about 70% of its July system peak load of 34.8 GW, and it framed serving data centers as a growth driver for the business, according to the same earnings materials.
Separately, Yahoo Finance reported that two FirstEnergy utilities, Monongahela Power and Potomac Edison Co., are seeking permission from the West Virginia Public Service Commission to build the Maidsville Energy Center, including a 1,200 MW gas-fired power plant and three solar projects totaling 70 MW. The utilities plan to spend about $2.5 billion on the gas plant and $182 million on the solar farms, with a planned operating date by the end of 2031 for the gas unit, and they expect a surcharge that would raise residential rates by about 2.3% on average.