Data Centers Devour Electricity. Private Equity Is Buying Utilities to Cash In.

Ratepayers across the U.S. are facing rising electric bills — a trend that could be turbocharged by Wall Street’s growing effort to capture the electric utilities we all depend on. A critical turning point in this development occurred in October when Minnesota state regulators greenlit the acquisition of Allete by asset management behemoth BlackRock — set to become Allete’s majority…

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