For most of my career, electricity prices have been dull. For more than a decade, US inflation was very low, and so too was electricity price inflation, regardless of the use class. Homeowners, small-and-medium businesses, and even major heavy industrial consumers could expect price increases in a tight band centered on zero. While the market was not immune from price action, it was not the kind of trend that required customers to take their own action in response.
US electricity demand is growing at a rate not seen in three decades. You know this, of course, if you read this blog, but you also know it from any given week of coverage of the US energy sector. News flow has conditioned us to expect that much of this demand is coming from data centers, which are certainly a highly concentrated, highly visible manifestation of electricity consumption in many state power markets.
Years ago as a young-ish analyst I learned an important thing about building meaningful information products: they require both a supply push and a demand pull in order to really work. If there is supply and no demand, no one will buy; if there is demand and no supply, there is nothing to sell.
The universe of energy information is too vast and too high-velocity for any one analyst. It’s too much for many teams of analysts. As I write this today, Halcyon has aggregated and organized information from 41 state public utility commissions (plus the District of Columbia!), and we already ingest up to 2,000 filings and regulatory documents every day.
Last week, San Francisco Climate Week provided us the opportunity to host our very own event at Halcyon HQ and enjoy having our distributed team gathered together in the same office. The collaboration was strong, the coffee was hot, the vibes were peak; a real startup experience.
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