CERAWEEK-NextEra Energy expects 55% jump in global power demand over the next 20 years, CEO says

By Georgina McCartney

HOUSTON, March 10 (Reuters) - NextEra Energy NEE.N expects a 55% jump in power demand over the next 20 years versus the prior two decades, Chief Executive Officer John Ketchum told attendees at the CERAWeek energy conference in Houston on Monday.

Some 17% of that demand growth is expected to come from the boom in artificial intelligence, which is spurring demand for power-hungry data centers.

Ketchum warned that costs for gas-fired power generation have more than tripled as demand has surged, making renewable energy cheaper and more available at the moment.

The cost of building a gas-fired power facility has jumped from just $785 per kilowatt for some facilities in 2022 to up to $2,400 per kilowatt currently, he said.

"We're going to need it all. We're going to need renewables. We're going to need gas. We're going to need nuclear," Ketchum said.

NextEra is currently looking at recommissioning the Duane Arnold nuclear facility in Iowa - one of several potential restarts in the United States.

Ketchum also warned of a potential power affordability crisis amid rising utility bills.

"If we have affordability issues, it's going to be really tough to meet all that demand that we see coming," Ketchum said.