Google, Microsoft, Meta, Oracle, xAI, OpenAI, and Amazon have agreed to sign onto the "Ratepayer Protection Pledge," the White House said Wednesday, describing the pact as an agreement to build, bring or buy new power to support their data centers in order to prevent higher electricity costs for consumers.
Trump, during Wednesday's roundtable with the companies' leaders, said that companies would make five promises in accordance with the pact.
This includes a commitment to provide or pay for all power generation and electricity needed for AI projects, along with adding electricity generating capacity to the grid through new power plants when possible.
Companies also agreed to negotiate separate rate structures with different utilities, invest in local communities for workforce development, and utilize their infrastructure to provide backup power to local grinds when needed.
"In short, America's largest and richest tech companies will be funding a colossal expansion of U.S. energy," Trump said.
The move comes as concerns mount over data centers' impact on customer electricity rates.
Trump said in his speech that data centers "need some PR help, because people think that if a data center goes in, their electricity prices are going to go up."
Data centers consume large amounts of electricity, which experts say could lead to higher electric bills as companies race to meet higher demand, including through the construction of new infrastructure.
Read more now at TheHill.com
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