In this Episode
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Moderator: Ed Crooks, Vice Chair Americas, Wood Mackenzie, and host of the Energy Gang podcast
Guests: Judge Kelsey Bagot, Virginia State Corporation Commission
Anthony Crowdell, Managing Director, Mizuho Americas
Andrew Gilbert, Partner, Energy Capital Partners
Josh Levi, President, Data Center Coalition
In this special episode of Energy Solutions, recorded live at EPSA’s 5th Annual Competitive Power Summit, Ed Crooks of Wood Mackenzie and host of the Energy Gang podcast moderates a discussion with Judge Kelsey Bagot of the Virginia State Corporation Commission, Mizuho Americas Managing Director Anthony Crowdell, Energy Capital Partners’ Andrew Gilbert, and Data Center Coalition President Josh Levi on what it will take to finance the power system of the future.
They unpack how quickly new infrastructure can be delivered to meet rapidly rising demand and what investors and markers are looking for in terms of policy stability and the tools needed to unlock private capital. They also highlight the growing imbalance between supply and demand, the challenges of forecasting in a constantly changing environment, and the policy and regulatory barriers that are slowing down development.
Topics include:
- What it will take to finance the full power system,
- How Wall Street is evaluating energy investment opportunities and risk,
- The role of policy stability in unlocking private capital,
- And the role of large energy users, including data centers, in shaping investment decisions.
Power Quotes:
“We have to start thinking about forecasting in a more realistic and creative way.”
JUDGE KELSEY BAGOT, VIRGINIA STATE CORPORATION COMMISSION
Key Takeaways
Uncertainty Is Reshaping Investment: Traditional load forecasting and planning tools are struggling to keep up with the pace and scale of change.
“We’re kind of in the Wild, Wild West of forecasting.” – Anthony Crowdell
Demand Growth Is Rising Much Faster Than Supply due to Bottlenecks: Rapid expansion in data centers and AI-driven load is fundamentally changing the demand outlook and putting pressure on the system, and even infrastructure delays are slowing the system’s ability to respond.
“We’re driving a tremendous amount of demand.” – Josh Levi
Data Centers Aren’t Solely Responsible for Demand Growth: While data centers are driving demand growth, they are not a monolithic load and are actively engaging in solutions.
“The data center industry is committed to paying our full cost for power and paying our own way.” – Josh Levi
Producer: Christina Nyquist, senior director, communications, EPSA
Associate Producer, Audio Editor: Anna Varnell, associate, communications, EPSA
Music Composed by: Let Me Hold That, Ltd.
