The turtle chief executive and CEO Rob Timel discusses his expectations of oil prices, artificial intelligence on the energy sector and the Federal Reserve's policy decision.
Electricity price It has increased over the past year, almost twice the rate of inflation due to rising demand and increasing investment in aging network infrastructure.
According to the Office of Labor Statistics, prices rose 4.5 % in May. Consumer price index (CPI), an extensive criterion of daily goods such as gasoline, food and rent. The general inflation rate for all goods and services was 2.4 % in May.
The demand for electricity has reached a full -time record, according to Phil Fellin, a senior energy analyst in the future group of Price Futures and a Fox Business participant.
Even before the first large wave of large heat this season, it brought some of the hottest temperatures seen in a century to the northeast cities of Monday, increasing air conditioning consumption and increasing demand for electricity. “Despite the improvement in air conditioning,” the overall impact on electricity consumption is remarkable, but it is essential for health benefits, “Flynn said.
US Power Network as AI and Crypto Drire Drred Skyward face an unprecedented challenge
The demand for electricity has reached a full -time record, according to Phil Fellin, a senior energy analyst in the future group of Price Futures and a Fox Business participant. (Joe Raedle / Getty Images / Getty Images)
Dangerous hot conditions It is expected that the National Bureau of Meteorological Services in New York is expected to continue on Monday, which is expected to be expected to be up to 110 degrees in parts of the southern, northeast New Jersey and southeast New York.
The National Bureau of Meteorological Services in Chicago released on Tuesday in X that heat indicators may exceed 100 degrees in the area.
Children and adolescents climbed on June 23, 2025 in Chicago, Illinois in the mid -1990s in the mid -1990s. (Scott Olson / Giti Pictures / Giti Pictures)
According to Flynn and Rob Timel, chief executive of the capital turtle, the rapid increase in electricity demand is also directed by data centers that are essential for training, deployment and implementation of artificial information models.
Thummel told Fox Business that data centers have extensive computational power that do the tasks necessary for AI programs For performance, but they rely on energy infrastructure for generating, transmitting and distributing electricity.
Rapid increase in electricity demand is also directed by data centers that are essential for training, deployment and implementation of artificial information models. (Amanda Andrade-Rhoades for Washington Post via Getty Images / Getty Images)
Increasing investment by Hyperscalers, who are building larger data centers and increased computing power, contributes to higher electricity demand after decades of stagnant electricity demand, according to Thummel.
Flynn said the data center power consumption has tripled to 176 hours in the past decade and may double or triple again within three years.
Tink Tank says fossil fuels produce less than half of US electricity for the first month.
The International Energy Agency, where the US economy in 2030 will consume more than 2030 for data processing for data processing than all high -energy goods such as aluminum, steel, cement and chemicals.
On these cases, another factor that increases consumers' costs is investing in electric infrastructure. Energy Information Management (EIA)Human
These investments have doubled between 2003 and 2023 due to a combination of factors, including replacement and update of aging and delivery infrastructure for fire and storm resistance, as well as programs for installation of the first natural generation of natural gas, then wind and solar production and battery storage. New lines were connected to renewable resources, and new technology such as smart meters, sensors and automatic controls were added to the system, adding to the cost.
Another factor that increases consumer costs is investing in electric infrastructure. (Joe Raedle / Getty Images / Getty Images)
Get Fox Business on a move by clicking here
The point is that the current demand goes beyond the country's supply capabilities, which is only “intensifying aging and electricity infrastructure issues”, according to Flynn, who added that private industries are now going to meet their needs to produce private electricity, and this requires more investment in infrastructure.
“The US electricity grid needs to invest in modernization to maintain reliability as well as expanding higher demand,” said Thummel.
According to Flynn, the elimination of this network “will be the biggest challenge for our economy.”
“We need to increase the capacity of electricity so that we can lead the technologies that want to lead the future economy, which are artificial information data centers and so on,” he said.