A recent power auction by PJM, the grid operator serving 13 states, is expected to add $6.3 billion in electricity costs to consumers and businesses due to demand from AI data centers — and the sector has already driven up power prices by an estimated $23 billion cumulatively. This represents what market monitors call a direct wealth transfer to tech companies, as ordinary ratepayers absorb the infrastructure cost of the AI buildout. New York has since paused new large data center construction for a year to assess the broader energy and climate impacts of this expansion.