Feds give $27B in loans for utility expansion
ATLANTA (AP) — Federal energy officials say they will loan a record $27 billion federal loan to Georgia Power and Alabama Power to expand electricity supply. U.S. Energy Secretary Chris Wright announced the loan Wednesday, saying subsidized interest rates will save customers more than $7 billion over time. The utilities plan to build new natural gas plants, add transmission lines, and upgrade older power plants. The loan comes as electricity prices rise faster than inflation in many states. There is also widespread grassroots opposition to new data centers for artificial intelligence.