News

Trump Pushes Tech Giants to Fund Power Plants Amid AI-Driven Electricity Surge

Published

7 months ago

January 16, 2026

America’s President, Donald Trump is set to unveil a bold plan requiring major companies to bankroll new power plants, targeting the skyrocketing electricity demands from AI data centers that are driving up consumer bills nationwide.

According to Bloomberg, the Trump administration, alongside governors from high-impact states like Pennsylvania and Ohio, will urge PJM Interconnection—the nation’s largest grid operator—to launch an emergency power auction.

This move aims make tech giants bid on 15-year contracts financing up to $15 billion in new generation capacity.

The proposal comes as AI-fueled data centers strain the grid, particularly in the Mid-Atlantic and Midwest, home to over 67 million people.

“There are now 3,789 active data centers across the U.S.,” notes Data Center Map, with the International Energy Agency projecting they will devour more than 10% of the nation’s total electricity by 2030.

Trump has repeatedly called for rapid power plant construction to counter this boom. Microsoft took an early step this week, pledging higher electricity fees and reduced water usage for its data centers following Trump’s public pressure.

On Friday, Elon Musk replied tweeting that “Space” might resolve the energy crunch.

This initiative builds on Trump’s recent Truth Social post teasing collaboration with “major American Technology Companies.”

While details remain fluid, the auction could mark a pivotal shift in how Big Tech shoulders infrastructure burdens amid America’s AI revolution.

Up Next

Netflix Doubles Down on Podcasts Challenging YouTube’s Dominance

Don't Miss

How Imam Who Sheltered 262 Christians During Plateau Violence Dies at 90

Click to comment

News

2027: Only Atiku can match Tinubu, opposition will die if steps down – Aide

Published

6 hours ago

August 18, 2026

Preport

The Senior Political Assistant to the African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, Demola Olarewaju, on Tuesday said the momentum of the opposition would die if the former vice president stepped down from the presidential race ahead of 2027.

Olarewaju insisted that Atiku is the only candidate showing the capacity to match President Bola Tinubu locally and internationally.

Posting on X, he wrote: “Atiku steps down now and opposition momentum dies totally – an election with the incumbent as contestant is a different ballgame from a transition election.

“2027 is beyond Atiku. Atiku himself is the bridge for us to build and hold an opposition core, post-2027.

“Atiku is the only candidate showing capacity to match Bola Tinubu locally and internationally in 2027.

“Every election is unique and different and everyone should get ready.

“2023 went the way it did because Buhari wasn’t too invested in Tinubu’s victory, that’s why APC lost Lagos and communal rigging was allowed in many states.”

Business

Alleged Criminal Conversion: EFCC Recovers N4.4bn Worth of AGO in Lagos

Published

7 hours ago

August 18, 2026

Preport

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Monday, August 17, 2026 recovered 2.3 million litres of Automotive Gas Oil, AGO, valued at N4.485 billion from Mamemo Ibru of Ibafon Oil and Gas, during an investigation into an alleged case of stealing and criminal conversion.

The recovery followed a petition submitted by Prudent Energy and Services Limited, alleging that petroleum products entrusted to Ibafon Oil and Gas for storage had been unlawfully converted, resulting in a significant shortfall in the company’s stock.

The petitioner also alleged that periodic withdrawals were made from the stored products until the outstanding balance stood at 2,574,031 litres.

However, during a subsequent physical measurement and reconciliation exercise, only 206,761 litres remained in the storage tanks, leaving a deficit of 2,367,270 litres.

Investigation revealed that Ibafon Oil and Gas is involved in the purchase and sale of Automotive Gas Oil (AGO) and also stores its petroleum products at the same depot alongside products belonging to its customers.

It was further revealed that Ibru allegedly used his position as the owner of Ibafon Oil and Gas to truck out petroleum products in excess of the quantity owned by the company, thereby converting the petitioner’s products for his own use.

Following the Commission’s intervention, the suspect handed over the recovered products to the petitioner, Prudent Energy and Services Limited.

The post Alleged Criminal Conversion: EFCC Recovers N4.4bn Worth of AGO in Lagos appeared first on Business Today NG.