News Summary

• Both Meta and Microsoft are asking for federal approval to trade power.
• According to Meta, this will allow it to make long-term commitments to buy electricity from new plants.
• Meta’s head of global energy, Urvi Parekh, told Bloomberg that power plant developers “want to know that the consumers of power are willing to put skin in the game.“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, he said.