Entergy spends additional $14 billion on powering Meta data centers. Apr 29, 2026 Executive Summary Entergy Corporation increased its total capital spending forecast to $57 billion, with $14 billion of incremental investment earmarked specifically for natural gas-fired power generation to serve Meta Platforms' data center development in northern Louisiana. This represents one of the largest utility capex commitments directly tied to a single hyperscaler's infrastructure buildout. The Players Entergy operates regulated utilities across Arkansas, Louisiana, Mississippi, and Texas. Meta Platforms is developing a major data center campus in northern Louisiana, requiring dedicated, dispatchable generation capacity. The utility is responding with a gas-fired generation strategy rather than relying on grid expansion or renewable-plus-storage solutions. The Numbers $14 billion in incremental capex is substantial. For context, that's enough to build 4-6 GW of combined-cycle gas generation depending on technology and site conditions. Entergy's total capex plan now sits at $57 billion, meaning Meta-driven investment represents roughly 25% of the utility's forward spending. No specific MW figures or commercial terms were disclosed, but the scale of investment suggests Meta has committed to multi-gigawatt load over a long-term contract horizon. This isn't speculative development - utilities don't allocate $14B without firm offtake. This deal confirms three critical trends: * Hyperscalers are driving utility capex directly. Meta isn't waiting for market solutions. They're partnering with regulated utilities to build dedicated generation, effectively bypassing traditional procurement timelines. * Gas is winning the dispatchable race for AI load. Despite renewable commitments, when hyperscalers need firm, 24/7 power at scale, they're choosing gas. Entergy didn't announce solar-plus-storage. They announced gas plants. * Utility risk profiles are shifting. $14B tied to a single customer changes the credit and regulatory equation. If Meta's load materializes as planned, Entergy locks in decades of cost recovery. If it doesn't, ratepayers could be left holding stranded assets. What Should You Do? For power developers: watch for similar utility partnerships in other hyperscaler markets. If you're competing in the behind-the-meter space, you're now competing against regulated utility balance sheets willing to build at scale. For investors: Entergy's equity and debt will reprice around this commitment. The question is whether the market views this as growth or concentration risk. For gas infrastructure players: $14B in gas generation means upstream pipeline, storage, and supply commitments. Follow the capex to find the midstream opportunities. April 29, 2026 Executive Summary TerraPower, backed by Bill Gates, has commenced construction on Kemmerer Unit 1 in Wyoming, marking the first utility-scale advanced nuclear power plant in the United States. This sodium-cooled fast reactor represents a critical milestone in the commercialization of next-generation nuclear technology and could establish a new model for replacing retiring coal capacity with [...] April 29, 2026 Executive Summary Duke Energy announced a $103 billion capital expenditure plan running through 2034. The investment is directly tied to surging data center demand across Duke's service territories in the Carolinas and Southeast, as hyperscalers race to secure power for AI infrastructure buildout. The Players Duke Energy operates regulated utilities across North Carolina, South Carolina, [...]

Bowman & Co S.C. has acquired a new position in Entergy Corporation, purchasing 10,381 shares of the utilities provider valued at approximately $961,000 during the fourth quarter of 2025, according to an SEC filing. The investment reflects growing institutional interest in Entergy, a major utility company serving customers across Arkansas, Louisiana, Mississippi and southeast Texas. The company has attracted increased investment from large funds as it focuses on transitioning its generation fleet, expanding renewable energy and modernising distribution infrastructure. Entergy's stock has experienced steady growth in recent quarters, supported by its infrastructure modernisation efforts and renewable energy expansion initiatives.