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AI Giants Should 'Pay Their Fair Share,' Says Adam Schiff As He Pushes New Energy Bill Amid Rising Power Costs
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On Monday, Sen. Adam Schiff (D-Calif.) introduced legislation aimed at making major artificial intelligence companies pay a larger share of energy costs as electricity demand from AI systems grows.

AI Energy Bill Targets Tech Giants

In a post on X, Schiff said, "It's time the companies driving the AI revolution take accountability for their energy usage."

He added that he is introducing the Energy Cost Fairness and Reliability Act to "protect Americans from rising energy costs" and ensure private companies "pay their fair share for the energy they consume."

AI Data Centers Fuel Energy Cost Debate

U.S. lawmakers and industry forecasts have raised concerns that the rapid expansion of AI data centers is driving up electricity demand and potentially increasing costs for households.

Last week, Sen. Elizabeth Warren (D-Mass.) said a single AI data center can use as much electricity as 100,000 homes, arguing that utility companies were shifting infrastructure costs onto consumers instead of major tech firms.

She called for stronger accountability from trillion-dollar companies.

Earlier this month, Goldman Sachs projected that global data center electricity consumption could rise 220% from 2023 levels, reaching 1,350 terawatt-hours by 2030, driven by AI infrastructure growth and more power-intensive computing systems.

In March, the Trump administration announced a voluntary "ratepayer protection pledge" with companies including Microsoft Corp. (NASDAQ:MSFT), Amazon.com Inc. (NASDAQ:AMZN), Oracle Corp. (NYSE:ORCL), Alphabet Inc.’s (NASDAQ:GOOG(NASDAQ:GOOGLGoogleMeta Platforms Inc. (NASDAQ:META), ChatGPT-parent OpenAI and Elon Musk’s xAI.

Under the agreement, firms committed to covering their own electricity generation needs and related grid infrastructure costs, with a separate rate structure envisioned for tech companies.

President Donald Trump said the initiative would help reduce electricity costs for consumers.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Golden Dayz / Shutterstock

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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