Meta Platforms (META) is venturing into electricity trading to accelerate the construction of new U.S. power plants vital to its AI ambitions, Bloomberg’s Josh Saul, Riley Griffin, and Naureen S. Malik report. The company’s head of global energy, Urvi Parekh, says trading electricity will give Meta the flexibility to enter longer contracts, which plant developers need to secure investment. 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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