To speed up the development of new power facilities required for its data centers, Meta is planning to enter the electricity trading sector.
According to Bloomberg, both Meta and Microsoft are seeking federal permission to participate in electricity trading, while Apple has already secured such approval. Meta states that this move would enable it to commit to purchasing energy from new sources over the long term, while also reducing risk by allowing the resale of surplus electricity in wholesale markets.
Urvi Parekh, Meta’s global energy chief, told Bloomberg that power plant builders “want to be sure that energy buyers are genuinely invested.”
Parekh explained, “If Meta doesn’t take a stronger stance on increasing the available power supply, the expansion isn’t progressing as fast as we hope.”
Bloomberg highlights that, to meet the extraordinary power demands of tech companies’ AI data center projects, Meta’s Louisiana campus alone will require the construction of at least three new gas-fired power plants.
