Meta is venturing into the complex world of electricity trading, betting it can accelerate the construction of new US power plants that are vital to its AI ambitions. From a report: The foray into power trading comes after Meta heard from investors and plant developers that too few power buyers were willing to make the early, long-term commitments required to spur investment, according to Urvi Parekh, the company's head of global energy. Trading electricity will give the company the flexibility to enter more of those longer contracts.
Plant developers "want to know that the consumers of power are willing to put skin in the game," Parekh said in an interview. "Without Meta taking a more active voice in the need to expand the amount of power that's on the system, it's not happening as quickly as we would like."
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