“`html
Electricity prices in Massachusetts have surged by 34% since 2020, reaching an average of $30.65 per kilowatt hour, with at-the-meter prices hitting $35. This spike has led to four-figure utility bills for residents and is creating significant strain on businesses, including data centers that face delays for electricity hookups.
The combination of stagnant electricity production due to a shift in manufacturing abroad and a growing demand driven by artificial intelligence is intensifying the energy crisis. Analysts project that AI data centers could consume 9% of American power by 2030, leading to potential capacity shortages by 2026.
In response, nuclear energy is being promoted as a sustainable solution, with the U.S. government aiming to add 300 gigawatts of new nuclear capacity by 2050. Since March, uranium prices have increased by 25% to $79 per pound, indicating a recovery in the market following years of decline.
“`
