Meta is seeking approval from US regulators to participate in the wholesale power market. The move aims to manage the increasing electricity demands of its data centres, driven by the development of advanced AI systems. Meta anticipates a significant increase in power consumption over the next decade.
Meta's subsidiary, Atem Energy LLC, would handle the power trading, selling energy, capacity, and ancillary services. The company has requested approval by mid-November. Meta's participation in energy markets aligns with its goal of powering operations with clean energy. Other tech companies like Amazon, Google and Microsoft are already active in power trading.
Analysts suggest that Meta could profit from selling excess electricity and leveraging on-site generators or batteries during peak demand. However, Meta will need to demonstrate it lacks market power to gain approval. The company's AI infrastructure investments are substantial, but participation in the wholesale power market presents an opportunity to monetise excess renewable energy.
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