Meta wants to get into the electricity trading business

Meta is seeking federal approval to enter the electricity trading market to accelerate the development of new power plants needed to supply its data centers. Alongside Microsoft, Meta aims to make long-term commitments to purchase electricity from new plants while reducing risk by reselling excess power on wholesale markets. This move follows Apple, which has already obtained similar approval. Meta’s head of global energy, Urvi Parekh, emphasized that power plant developers require assurance that buyers are committed to supporting new energy projects. Meta’s active participation in electricity trading is intended to speed up the expansion of power infrastructure, which is currently progressing too slowly to meet the company’s growing energy demands. For instance, Meta’s Louisiana data center campus will require at least three new gas-powered plants to meet its substantial energy needs, highlighting the scale of infrastructure investment driven by tech companies’ AI ambitions.