US electric and gas utilities are preparing for a sharp acceleration in capital spending in 2026, as surging electricity demand, led by data centers and steady growth across residential, commercial and industrial users, forces a rethink of grid capacity and resilience.
The investment surge spans some of the largest US operators, including Constellation Energy Corp., Duke Energy Corp., Southern Co., NextEra Energy Inc. and American Electric Power Co. Inc., alongside peers such as Edison International and Xcel Energy Inc.
Larger-scale programs remain concentrated among the sector’s biggest players.
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US electric and gas utilities are preparing for a sharp acceleration in capital spending in 2026, as surging electricity demand, led by data centers and steady growth across residential, commercial and industrial users, forces a rethink of grid capacity
