Summary of the Conference Call on US Power Demand and Renewables Industry Overview - The discussion focuses on the **US power demand** and the impact of **renewables** in the context of rising demand driven by **data centers** [1][3] Key Points and Arguments - **Rystad Energy Report**: A report led by Marina Domingues indicates that the full retail power price impact of US data centers will not be fully realized until closer to **2030**. The increase in US energy demand is expected to face challenges due to "severe supply-side bottlenecks" [3][1] - **Market Dynamics**: The conversation aims to explore the relationship between the growth of renewables and the increasing power demand from data centers, emphasizing the need for affordability and the role of data center operators in utilizing renewables [1][3] - **Renewables vs Non-Renewables**: The discussion will cover insights from data center operators regarding the attractiveness of gas compared to renewables for meeting load growth [9][1] - **Growth Projections**: Projections for data center growth will be analyzed, including which regions are most attractive and how Rystad assesses risks related to data center capacity growth based on power availability [9][1] Relevant Stocks - The call mentions several relevant stocks in the utilities and clean energy sector, including: - **EDPR** - **RWE** - **Engie** - **Orsted** - **Iberdrola** [5][35] Additional Insights - **Behind the Meter Considerations**: The call will address behind-the-meter considerations for data centers, which may influence their energy sourcing strategies [9][1] - **Market Adjustments**: Discussion on how the market may adjust for renewables, including PPA prices and the appetite from local utilities and corporate entities [9][1] - **Risks for Non-Renewables**: Key risks associated with non-renewables will be identified, along with potential implications for data center-driven power demand [9][1] Speaker Background - **Marina Domingues**: Vice President at Rystad Energy, leading the New Energies research team for the Americas, focusing on power market dynamics and clean technologies [5][1] This summary encapsulates the essential elements of the conference call, highlighting the interplay between US power demand, renewables, and data centers, while also identifying key stocks and potential market dynamics.