This means data center occupancy for this infrastructure is projected to increase from around 85% in 2023 to a potential peak of more than 95% in late 2026. That will likely be followed by a moderation starting in 2027, as more data centers come online and AI-driven demand growth slows, Schneider stated.

"Data centers are a unique set of customers that are putting a unique and significant cost on the electric system."

The State Senate missed a critical deadline to vote on a bill mandating the state's largest electric utility to charge data centers for costs incurred to serve them.