US electricity demand is expected to rise by almost 16% in the next five years, surpassing previous estimates. This increase is primarily due to the growing energy needs of new data centers and factories, as stated in a recent report.

Utilities predict a need for up to 128 gigawatts of new capacity by 2029, a significant increase from last year's forecast of 39 gigawatts. This updated estimate is based on data from regional grid operators, indicating a notable shift in the energy landscape as demand continues to rise.