Core Insights - Major manufacturers like Siemens Energy and Mitsubishi Power are cautious due to historical experiences, but underestimating demand could have significant consequences [1] - GE Vernova faces a strategic challenge in balancing short-term profitability with the risk of losing market share if competitors ramp up successfully [2] - The industry's Big Three must consider whether the risk of a price crash from oversupply in five years outweighs the immediate loss of billions in delayed orders, especially with ongoing demand for dispatchable power for data centers [3] Industry Dynamics - There is a turbine supply crisis, with wait times for new combined-cycle turbines extending toward seven years, leading some data center operators to use single-cycle gas turbines [3] - A senior executive from Crusoe highlighted the urgency for power in the industry, noting the limitations in options for energy sources and the lengthy manufacturing time for precision turbines [4] - The demand for gas turbines is increasing globally, as developing countries replace coal with gas, further complicating the supply issue [4] Economic Implications - The Institute for Energy Economics and Financial Analysis reported that the imbalance between supply and demand for gas turbines is raising costs for new gas-fired power plants in Vietnam and the Philippines, with wait times extending to seven or eight years [5] - The report advocates for the rapid expansion of low-cost renewables and storage, but emphasizes that the current shortage in gas turbines is due to the unique need for dispatchable electricity, which gas provides [5]