Meta wants to get into the electricity trading business

In order to accelerate the construction of new power plants needed to provide energy for its data centers, Meta is looking to get into the business of trading electricity.

Bloomberg reports that both Meta and Microsoft are asking for federal approval to trade power (Apple has already received this approval). According to Meta, this will allow it to make long-term commitments to buy electricity from new plants, while mitigating the risk by having the ability to resell some of that power on wholesale power markets.

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