CERAWeek: Three utility CEOs on energy transition, AI demand and changing US politics

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Eklavya Gupte:

Welcome to Energy Evolution. I'm Eklavya Gupte and we've just wrapped up an exciting few days from CERAWeek in Houston, Texas. And my co-host, Taylor Kuykendall still has a few more interviews to share from the event.

Taylor Kuykendall:

That's right, Eklavya. CERAWeek is one of the largest and most influential energy conferences in the world. It brings together world leaders from various sectors and across the world of politics. And we still have some more interviews to share with you.

All right. We are here live with Maria Pope, president, CEO, and member of the board of directors of Portland General Electric. Thank you so much for coming back to Energy Evolution.

Maria Pope:

Thank you. It's an honor to be here.

Taylor Kuykendall:

Excellent. Thank you so much again. Like CERAWeek, obviously lots going on. How's it going for you so far?

Maria Pope:

Oh, it's been great. There's no question that there's a lot of important conversations taking place this week.

Taylor Kuykendall:

Oh, for sure. And I'm wondering too, one of the things that we've been talking about a lot is data centers AI. Can you tell me a little bit about the role that you're seeing for data centers, semiconductor manufacturing? And the growth of those industries? And how that plays in your company's long-term usage and growth expectations?

Maria Pope:

Sure. We've been talking about the growth of these sectors for five or six years now. And there's no question that it is really changing how we think about our overall business and how we meet our customer's needs. So first and foremost, and you see the re-shoring of manufacturing, and in particular semiconductor manufacturing.

We're home to some of the largest and most prominent semiconductor manufacturers in the country, if not the globe. And about 15% of semiconductor manufactured in the United States are actually manufactured in our service territory. So we've really seen a lot of cutting-edge chip design and development over the years and are uniquely suited to serve those customers.

Add to that, what we've seen in AI and data centers. When you think of the undersea cables that go fault on the Atlantic and then terminate in Virginia, those same cables across the Pacific terminate in Oregon. And so we've been an area that is long been of interest to data centers and AI folks.

Taylor Kuykendall:

Wow. And tell me too, when we talk about AI, one of the big pieces of news, DeepSeek took down how much we thought we might need AI. And then people realized maybe not, maybe we still need to whole lot more energy for this AI.

But then also semiconductors, they can improve. Chips get better, more efficient. How do you figure out how much power is exactly going to be needed by this industry when we see headlines kind of changing what people might be expecting every day?

Maria Pope:

Sure. So when we think of it, we think them as three primary areas. The first one is what kind of improvements are being made to the algorithms and to the tech stacks that are running a lot of these AI tools and all of what we're seeing in terms of cloud computing?

Second in terms of chip design, the more efficient energy use. And the chip design is really elevating in terms of how we can be using energy better for all of the compute power that we need going forward. The second area is really what we're seeing is around how data centers and utilities work together.

So I think of some of the initiatives we have through EPRI and other places, around DCFlex as an example. And really finding the synergies between the use of energy and the production and management of the energy systems.

Taylor Kuykendall:

It sounds like you're watching it very closely, but I'm wondering is there any concern about overbuild? Or missing some revolutionary technology that comes out of nowhere?

Maria Pope:

Well, we're staying in contact with all of our customers, working with them closely. So we're hearing about them in terms of technology in real time and really incorporating those. We're using a lot of AI and digital tools on our own business to drive efficiencies and improvements. And we're also seeing technology advances in hardware and energy generation and stores that we're using as well.

I would also say in terms of overall, in terms of overbuild, at this point in time, the consumption of energy seems to be continually growing. On the industrial side, it's about 10 to 11%, and that's quite significant. So really it's around how do we manage all of the interests for not only the high growth customers, but some of our commercial customers, as well as our residential customers? To ensure that everyone's needs are met and prices are kept affordable.

Taylor Kuykendall:

I'm also a coal reporter, that's where I got started in all this, in addition to the podcast, and watch that industry closely still. A lot of that industry is excited about data centers, AI demand, and we even heard Trump and Davos say that they were going to build a coal-fired plant as a backup to a data center.

You're talking to these tech companies. Do you think that's something that they'll be interested in? Or are they looking for, are they pushing for more of these low-carbon type solutions instead? What are you hearing?

Maria Pope:

The tech companies that we serve have not changed their very aggressive climate targets. From Microsoft and their targets, to Amazon and their climate pledge, to many of the other hyperscalers as well as other customers in these areas.

And so we are really reflect the values of our customers, both the very largest customers, but also our residential and small business customers, who have the number one clean energy program on a voluntary basis in the United States according to NREL. So for 15 years we have been number one. And today 24% of our residential customers pay a little bit more for clean energy and really care about the environment and sustainability.

Taylor Kuykendall:

While we're on the politics question, and we can move on after that. I'm just wondering, after the election of Trump, we see kind of a shift change, mood change, in kind of how we're thinking about renewable energy, at least from the federal government level. How is that impacting the way you're thinking about business? And how Portland General Electric is about its operations?

Maria Pope:

So we really reflect the communities that we serve and our customer's interest. And as I said, many of our customers have very public, very aggressive clean energy goals, and so far we don't see those changing. And so we're leaning in to continue the clean energy transition that we have been under.

And today, clean energy as well as battery storage is economic because of the investment tax credits and the production tax credits. So we're watching things closely, but today we are still on the same path and reflecting the values of the region that we serve and our customers.

Taylor Kuykendall:

Yes. And in the news recently had heard Senator Ron Wyden was talking about the rate hikes and things going up and concerns about that. And then we also have to think about all this data center demand, maybe it was going to need for more infrastructure. Can you just tell me a little bit about that, the news controversy there? What happened? What you're doing in reaction to it? And then also going forward and what's going to happen as we have some more demand?

Maria Pope:

So we work collaboratively with Senator Wyden and with his office. We've had multiple discussions in the senator's office before, during, and after those letters and the correspondence between our company, myself, and this senator. And so we're working collaboratively.

We're very fortunate in that our senator has decades long experience with energy issues. And really understands some of the supply demand dynamics and the issues around the federal hydro system that we need to address. And ensure that all customers, all residential, all small commercial customers, have the same access to low cost energy from the federal hydro system.

Taylor Kuykendall:

Excellent. As kind of the last question I want to ask. I want to open it a little bit more widely. What do you see as some of the greatest challenges in 2025? What's your greatest opportunities?

Maria Pope:

They're probably the same. Challenges and opportunities about how we deal with a rapidly changing environment, the pace of change, and really seizing on the opportunities that this moment in time brings. One of accelerated technology, wanting accelerated markets and integration. And the ability to bring all of this to bear for all customers, to keep costs affordable, to keep energy supply reliable, and to meet the growing energy needs of customers.

Taylor Kuykendall:

Excellent. Maria, thank you so much for joining Energy Evolution today.

Maria Pope:

Thank you. It's an honor to be here. Thank you.

Taylor Kuykendall:

Hello, I'm here live with John Pettigrew, CEO of National Grid. National Grid is a London-based electricity and gas utility company. They're also one of the largest investor-owned energy companies in the US, serving places like New York and Massachusetts. Did I get that right? Anything else we should mention about National Grid?

John Pettigrew:

That was absolutely perfect.

Taylor Kuykendall:

Awesome. Thank you so much for joining on podcast today.

John Pettigrew:

Yeah, nice to see you.

Taylor Kuykendall:

Excellent. So National Grid announced $75 billion in capital investment over the next five years. I'm just wondering can you tell me, how do you prioritize frameworks? Or sorry, what kind of frameworks are used to prioritize projects? And how are those projects distributed geographically? And then to make it a three-part question, how's that kind of changing under the new administration?

John Pettigrew:

Yeah, so back in May last year actually, we took a step back and decided that as a company we were going to refine our strategy and focus on networks. So National Grid as a company now is very much gas and electric networks, UK, US regulated competitive networks, offshore, onshore. So that's our focus as a business.

And as we look to what we've been asked to do by our stakeholders and our customers, it was very clear that we're going to see a massive ramp up in capital investments. So $75 billion is over the next five years. And to put that into context, there's more than double what we invested in the previous five years. And it's huge in terms of pace and in terms of scale.

In terms of where it goes and how we prioritize it, well, first and foremost, it's about making sure that we deliver a safe, reliable, resilient, and secure network to our customers both in the US and in the UK. And that accounts for about half of the investment that we undertake.

And historically we've always done that, but the thing that's ramping up the investment is that if you look at the ISOs in the Northeast, for example in New York and in Massachusetts, they're talking about a doubling of load of demand by 2050 and the need for us to connect about 150 gigawatts of generation. So those two factors, when you add that on top of the traditional investment, means that we've got this massive ramp up.

So about half of it is the traditional CapEx as I described it. And the rest of it is actually supporting that low growth and that new generation. And the split between the UK and the US is about $35 billion of our investment is in the US at the moment and the rest is in the UK.

Taylor Kuykendall:

Now I'm wondering to get to that question though, how has that kind of changed in the new administration? Are we thinking differently with Trump in office?

John Pettigrew:

Well, interestingly, one of the things when it comes to networks is everybody is recognizes the role that networks play. And therefore things like investing in networks for economic development, for reducing bills for customers, and for energy security. Actually it's pretty bipartisan actually, in that those are things that people recognize and support.

Obviously in the Northeast we operate in states that are pretty ambitious around the energy transformation that's going on. So some of the investment is related to supporting that as well.

So yes, we've seen a Trump administration come in with very different views around climate change, but actually a lot of the drivers of networks are bipartisan. And therefore we focus on delivering, as I said, for our customers to make sure we've got energy security, economic development, lower bills, but support our states as well.

Taylor Kuykendall:

I know this is changing a lot, but we mentioned tariffs before we jumped on the podcast today and it's hard to keep track of what's going on. We have heard a proposal of a 25% surcharge from Canada as we go back and forth on these tariffs. I'm just wondering what are you thinking as you're watching that? How might that impact National Grid and your customers?

John Pettigrew:

Well, it's certainly dynamic. I got off the plane yesterday and there was a tariff being imposed by Canada, and by the time I got to the hotel it had been postponed. So it is a very dynamic environment.

I mean at the moment when I look at the energy flows for the Northeast, about 5% of the electricity that serves our customers in the Northeast comes from Canada, in actually Massachusetts and about 3% in New York. So there's a relatively small modest amount at the moment.

But obviously, as you move into the winter, it's increasingly important. So at the moment we're sort of monitoring it very carefully. It's a small element, but it's difficult to calculate exactly what the impact is for customers until it all settles down. But that's something that we're going to keep a close eye on.

Taylor Kuykendall:

Sure. And when we talk about the need for more electricity coming, a lot of that's tied to AI data centers, but we also hear about manufacturing, on-shoring, and such. But specifically with the AI thing, it seems like it's been hard to predict exactly how much we're going to need that.

Can you tell me a little bit more about how much, when you're making these investments, does count on that AI data center demand? And what are maybe some of the risks there in trying to project exactly how much we need from that?

John Pettigrew:

Yeah, we're spending a huge amount of time at the moment and trying to separate out, I guess some of the conversations and the rhetoric from the facts. And making sure that we've got clarity on what the pipeline looks like. There is no doubt that we are going to see low growth over the next decade and at a level that we've not seen before.

In the Northeast, it's a more expensive area for things like property and for talent. And therefore I'm not sure we're going to see double-digit low growth that you've seen in some of the other states, but we are projecting to see significant low growth in both New England and New York.

For us, what we've been doing is looking at the investments that we're making in our networks to make sure we can support that pipeline of growth that we can see. So for example, in Massachusetts we submitted to the regulator what we call the electricity sector modernization plan, which they've just approved. Which is a $2 billion five-year plan to effectively do two things.

One is to really modernize the grid to embrace things like using AI to manage networks, but also to increase the capacity of the grid. So in Massachusetts for example, we're increased the capacity by about three gigawatts by 2035, and Massachusetts is like a 20 gigawatt system. So it's quite a significant increase in the capacity of the network.

In New York, we've been investing in transmission. So a lot of things like data centers are looking at Upstate New York where energy prices are lower. We've got a program at the moment called the Upstate Upgrade, which is a $4 billion investment. It's upgrading about 1,000 kilometers of transmission, upgrading about 25 substations. It's the largest transmission investment in New York State ever.

So we're doing those types of things, but we're also stepping back and working with regulators and stakeholders to ask some of the questions around how do the regulatory frameworks need to change? Because the reality is it takes longer to build transmission than it does to connect to date center. So how do you solve that mismatch?

And one of the ways we've been talking to our regulators actually here in the UK, sorry, in the US and in the UK, is actually about anticipatory investment. So how do we invest in the networks in advance of that load coming? So that when data centers do arrive, actually there's no delay in their connections.

Taylor Kuykendall:

So I guess I know that's early conversation. If you had the solution, it'd be easy. But what are some of the ways that you can make sure that that transmission is ready when the data center is?

John Pettigrew:

So I think the obvious way is to link an industrial strategy with what network needs to be built to then get on with that investment. So fundamentally for a network provider, what you want to know is how much and where? How much capacity do you want and where do you want it?

So if you can tie that up into economic development, so for example, at the state level. And decisions can be made about where those data centers can be located, then actually there's nothing to stop us getting on with building the infrastructure in advance of when that data center is going to come.

And it's just to flip over to the UK. That's something that's happening in the UK at the moment. The UK government has just announced AI zones in the UK. So they're basically going to determine where they want the data centers to be, and then we'll work with the government and with our key stakeholders and data centers to make sure the capacity is there when they need it.

Taylor Kuykendall:

I wonder too, with all this new demand, and these AI data centers are going to be such big customers, will they be splitting most of the kind of cost of some of those investments? Does that go out to other customers as well? How do you make sure that the AI and data center revolution isn't necessarily just being borne out of the cost of other repairs?

John Pettigrew:

Yeah, that's a great question. And I think some of the traditional ways that tariffs work, then customers could end up effectively subsidizing the connections of data centers. In my conversations with key stakeholders, regulators, and with data centers, actually, I think there's a recognition that they need to pay their fair share, and therefore I think we will see a modification of tariffs.

So the data centers are absolutely covering the cost of those investments even if that load then doesn't materialize. So those are the types of conversations that we're having at the moment, both again in the UK and in the US. So I think there's a recognition.

Interestingly, when I talk to data centers, the thing that seems most important to them is not actually the cost of the connection, it's the speed of the connection and making sure they've got access to the capabilities they need. So that seems to be the overarching and driver, which gets you back to how can we do that anticipatory investment to make sure we've got the capacity that's needed?

Taylor Kuykendall:

And so I think our listeners probably, we hear so much about data centers, they're probably tired of me talking about AI. What are maybe some other big innovations, challenges, things you're excited about in the energy space here in 2025?

John Pettigrew:

Well, I'll start with AI actually because we're making a big announcement today actually, which is back in 2018, National Grid established what we call National Grid Partners. So we took the decision that innovation was going to be massively important for us as we move forward. And what we didn't want to do as a utility was just build the networks as they were built in the 1960s, but just bigger. We wanted to embrace technology, AI, digitalization.

So we set up National Grid Partners, which is actually a CVC fund of which we've invested nearly $500 million in 40 startups. And the aim is that these startups bring new technologies to us. We partner with them, we support them, we give them access to our networks so they can try those products on our system. And then ultimately puts us in a better position to be able to serve our customers by bringing those new technologies on.

And today we're announcing that actually over the next period we're going to invest another $100 million, specifically on AI technologies that will help us not to connect data centers, but actually to run the grid. Taking into account with the increased intermittency that we've got, all the new generation we've got, the different needs of our customers. So there's a big announcement today because we've had a fantastic period of investing nearly $500 million, but over the next period we're going to spend $100 million dedicated to AI technology.

Taylor Kuykendall:

And as a note for our listeners, we're here talking Wednesday, March 12th, so we're going to be a couple of days behind. They might've already heard about this and definitely some exciting news it sounds like.

But I wonder if you could kind of walk us through, but what do we mean when we say AI is going to do some of this? Like this management? And why is it better than maybe some traditional computer programming? And without getting too technical, what does AI offer?

John Pettigrew:

Yeah, absolutely. Probably best just to give you a few examples of the types of startups that we've invested in who are now using that AI technology to help us run grid. We invested in a company called AiDASH, for example. Very simple, people will understand this, if you follow networks. One of the most important things networks do to maintain reliability is to keep vegetation away from the lines.

So we use actually military-grade satellite technology with artificial intelligence to project the growth patterns of different types of vegetation. And we are applying that now to our vegetation management programs. In Massachusetts last year we saw a 30% increase in our reliability performance as a result of not having vegetation issues. So that's a great example where bringing together digital technology and AI, bring them together to a very practical solution.

And one of the companies we're announcing today actually is helping us with load forecasting. So as I said, the last 10 years, you've not seen much load in load growth in utilities, but we are seeing it. So how would you take all the different drivers of load and actually project that forward? And using artificial intelligence bring all the different data sets together? Is one of the things that we're going to embrace to make sure we've got better load forecasts and therefore investing for our customers in the right way.

Taylor Kuykendall:

And some sort of with the kind of advent of AI is other new cybersecurity risks that you have to worry about. Whether that's internal problems with an AI that maybe we didn't quite understand how it works or if it's an outside force kind of using AI as a weapon.

John Pettigrew:

So I'll split it into two actually. So one, in terms of using AI, clearly we have an awful lot of data which is incredibly sensitive. So for National Grid, I know other utilities have done that. Then we give our teams access to these data models, but we actually make sure that they're enclosed. So we're not using the public generative AI models, we are creating a National Grid secure place for us to be able to use that technology in a way that means that we're protected from someone getting access to that data.

Security, in terms of cyber AI, yes, it's another factor to consider. But if you ask me what the five things that I worry about, cyber security is obviously going to be one of them. And I'm pretty sure any CEO who runs a utility would say the same. So making sure that we've got security around our data, our real-time systems, our business systems. And actually increasing the operational technology out on site as well, is something that we spent a huge amount on. We have 24/7 teams that are focused on that.

Taylor Kuykendall:

We talked, you just mentioned the five things that you worry about. Maybe what keeps you up at night. Tell me what the other four are? Or maybe give me a sample of a one or two?

John Pettigrew:

So rather than go through all four, I would say one of the things that we're very focused on at the moment is around affordability. So National Grid is predominantly in the Northeast of the US where we've just gone through a very cold winter. Our customers are experiencing higher bills than they saw last year, and that's something that massively worries us.

We want to be supportive of the energy transformation that's going on. That requires a huge amount of CapEx, as you said, and ultimately customers pay for that. So we try and think through how can we mitigate some of those impacts? So for example, we'll shape our rate case filings to try and support policy aspirations that the government has or the state has, but recognize that there's a bill to be paid.

We also do a huge number of programs to support vulnerable customers. And this year we've launched an Affordability Fund to help the most vulnerable customers. So $15 million being set aside over the next couple of years just to support those local families who are really struggling to pay the bills. But it's definitely something on our mind at the moment.

Taylor Kuykendall:

And to come back to the Trump administration, they've talked about energy dominance. A lot of room in there for what that could mean and who might benefit from that. What do you think is maybe an opportunity? Are there something where you think that there are opportunities for companies like National Grid to benefit from this push for more energy, this recognition that we need more energy?

John Pettigrew:

Yeah, last week I was actually in Washington and I met with the Secretary of Energy and had a very good conversation actually about where those opportunities could be. And I think one of the ones that I certainly see as a fantastic opportunity for the whole of the US is to get more inter-regional transmission built.

If you think about the US as a network, it's pretty sporadic. And there's a fantastic opportunity to connect transmission systems from different regions to give people access to some of the lower cost energy in regions that don't have it. So again, in the Northeast we know that more inter-regional transmission connecting with PJM and MISO will potentially provide access to lower cost generation to New York and to the Northeast.

So I see that as an opportunity. We've seen from the Trump administration that that's an area that they're thinking about. And particularly how do you address things like planning and siting to be able to get that transmission built in a more timely fashion? So I see that as a real opportunity.

Taylor Kuykendall:

For folks that aren't as familiar, it is a big undertaking though, right? Can you maybe give me a little color around what it would take to make that happen? And also in this meeting, to get the sense that we might be starting to move along on that from the government perspective?

John Pettigrew:

Yeah, it's always been a challenge. So National Grid has been in the US for 35 years and there's always been talk about the need for transmission. The challenge is that ultimately every state has got a role to play in getting approvals. And therefore lining up every state where transmission flows through, it's always quite difficult.

If federal governments can do what governments are really good at, which is to bring people together and to convene people together to find a solution to that, then I think potentially we can break through what has been a blocker in the past. Typically, building transmission in the US can take 10, 15 years. I've heard of stories even taking longer than that. So there's a clear benefit for many states.

So I think it is about whether the federal government can convene with the states to get clarity on what are their approvals and try and break through some of these blockers. It's not easy. I wouldn't kid anybody that it's easy, but I do think it's something that could have real benefit for consumers here in the US.

Taylor Kuykendall:

And the last question I want to ask is, we've talked about a lot of hurdles and challenges and in big work that you're got to be doing here soon. Just want to open it up. What's something you're excited about that we haven't talked about yet? Or something that you see maybe in the near term, medium term, whatever you want to pick out? What's that thing that gets you excited to get up in the morning?

John Pettigrew:

Well, we've sort of covered on it. I'm hugely excited just by the opportunity that we have, given the scale of the investment that's needed across our networks to really take those networks into the 21st century. I mean, people are still surprised just how familiar networks look to what they originally were when they were built 100 years ago. And yet technology has moved on so much.

So for me, the opportunity is to embrace digitalization, embrace AI, really look for new ways of meeting the needs of our customers. The way networks were built in the past, they were built to meet a peak demand once a year. There's a huge amount of spare capacity that's available if only you can optimize it, and some of the new products and services that we're seeing could help us to do that. So I'm pretty excited about that.

Taylor Kuykendall:

Excellent. John, thank you so much for joining us on the show.

John Pettigrew:

Very good.

Taylor Kuykendall:

All right, we are here at CERAWeek. We got Rebecca Kujawa, president and CEO of NextEra Energy. Rebecca, thank you so much for joining us today.

Rebecca Kujawa:

Very happy to be here.

Taylor Kuykendall:

Rebecca, how do you envision the energy transition evolving over the next decade? And what role do you see Next Energy playing in that transition?

Rebecca Kujawa:

So we are at a remarkable crossroads in our industry, truly entering a new paradigm where we are seeing tremendous load growth when we haven't seen it in two decades. So that creates tremendous challenge for the industry, but tremendous opportunity as well.

If you look at what type of resources are available today to meet this new demand, it's largely the renewable and storage resources that are already in process of being developed. Getting their permits in the interconnect queues, already signed up for with customers in order to be brought online. So that's tremendously exciting in terms of our opportunity to meet this moment.

To meet the opportunities in re-shoring and manufacturing, scaling of important artificial intelligence loads, even industrializing process using electricity. So I think it's super exciting and the industry is truly ready for this type of load growth.

Taylor Kuykendall:

And so that is like a brand new thing, right? That we're seeing this load growth coming online. What are some of the challenges to meeting that? I imagine it's hard to measure exactly how much we might need. There's a lot of questions. We saw this announcement with, what was it, the new AI technology increasing efficiencies. How do you even go about planning for this?

Rebecca Kujawa:

Well, I think it's a tremendous shift for our industry. If you look at the utilities or the municipalities or cooperatives across this country that work every day to serve load to customers, they really haven't seen that demand change in a couple of decades. So first, it's a mentality shift of really realizing that we need to think about how we're going to do things differently and that we need to scale the resources that we're in the process of building.

If I just speak about NextEra Energy Resources, we have about 300 gigawatts of projects in various stages of development to help meet this need. In the near term, it's going to be highly focused on storage and renewables. But over the longer term, in 2030 and beyond, it will incorporate new gas turbines, whether those are combined cycles or peaking facilities. As well as hopefully in the middle of 2030s and beyond, new nuclear technologies to really be able to meet this demand over the long term.

Taylor Kuykendall:

Excellent. We talk about AI and data centers all the time on Energy Evolution. I feel like that's really kind of grabbed the headlines, but one of the things you mentioned there was the on-shoring of manufacturing. Tell us a little more about the story there? Or do you think people are maybe missing out on that kind of headline?

Rebecca Kujawa:

I think it's incredibly important to focus on. One of the government statistics that I enjoy watching is the new spend on manufacturing, the actual construction of new manufacturing facilities. And we're at a over $200 billion annual run rate, and that's relative to five, six years ago of a $40 billion annual run rate. So a tremendous shift, and I think that's exciting for the US economy.

Chips Act was a huge part of this, as well as the Inflation Reduction Act, where we are really incentivizing manufacturers to bring facilities to the United States. Obviously it brings jobs, it brings tax rolls for these local communities, but it also enables our long-term competitiveness from a US economy standpoint. But in order to serve this new load, we do need to have the generating resources and transmission in order to be able to serve them.

Taylor Kuykendall:

Right. We just had a big election. Things changed a lot. There's obviously going to be some challenges for renewable energy. But tell us first about what are the challenges you face now, now that we have an administration change? But also what are going to be some benefits or some places you see that might actually help out with the energy transition?

Rebecca Kujawa:

Well, first and foremost, we are very supportive from an energy dominance perspective. We know that the US economy will be stronger, more resilient, more durable over the long term if we have manufacturing. If we have AI loads, if we have the industrialized processes using electrification. We need to be able to support all of those resources with American energy.

So first and foremost, making sure that we bring those resources to bear as quickly as possible. Again, in the short term, probably storage and renewable resources. Longer term, a greater variety because that all forms of energy approach has served our country so well.

So we are excited about supporting that. We believe that keeping low-cost energy available to customers when they need it, where they need it, is a critical imperative and our company is here to help.

Taylor Kuykendall:

Excellent. Can you tell me a little bit about just your thoughts on how you go about deciding to make some of these investment decisions? What are some of the lenses or filters that you're putting these resources through as you're deciding what comes online next?

Rebecca Kujawa:

For our customers today, one of our biggest challenges is helping them think differently. How are they going to support this significant load growth? And it ends up being a very customized both problem and solution to those customers.

Every utility has an existing set of resources. They have existing transmission that's available to them. And so when we're thinking about adding a half gigawatt, a gigawatt, or a five gigawatt load, we start first with what they have and then what are the low-cost resources in the time frames in which they need them to be built to be able to meet that load growth.

We're uniquely positioned to help them, both with the analytics of what does that look like, what is the ideal solution? What is the lowest cost that can be fast, brought fast to market? And then be able to build all those forms of energy and transmission capability for our customers. So I love the way that we can help people today in a unique way. It's different even than we were helping them five years ago.

Taylor Kuykendall:

Excellent. Rebecca, thank you so much for coming and joining insights.

Rebecca Kujawa:

Thank you.

Taylor Kuykendall:

All right, listeners, thank you so much for listening to the latest episode of Energy Evolution. I want to give a special shout out to our incredible podcast team members. I am once again, Taylor Kuykendall, but other people behind this podcast include Dan Testa, Camilla Naschert, Christopher Coats, Karen Willenbrecht, and our wonderful agency partner, The 199.

To stay up to date with our upcoming episodes, be sure to subscribe to Energy Evolution on your favorite platform. If you have any ideas for future themes or guests, we'd love to hear from you. All you have to do is shoot us an email at EnergyEvolution@SPGlobal.com.

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