Key U.S. grids have cut summer demand forecasts after data centers lagged, easing pressure on supply lines. The North American Electric Reliability Corp. projects a 11 gigawatts rise from last year—enough to power more than 8 million homes—yet the slowdown helps keep outages at bay.

In the Midwest, PJM now holds 26% extra reserves for the season, a cushion built after sharply trimming its 2027 outlook. The move reflects slower-than‑expected connections from new data centers, reducing the need for costly peaking plants.

Texas benefits from a 3.7‑GW drop in net demand, thanks to Texas Senate Bill 6, which lets the grid curtail large users during peaks. Coupled with a growing battery‑storage portfolio, the state sidestepped blackouts during last winter’s storms.

For investors, the muted growth signals that data‑center operators face tighter grid access, potentially dampening expansion plans and shifting capital toward storage and demand‑management solutions. The industry must now weigh higher connection costs against the risk of supply shortfalls.