Latest news with #JonGordon


Mint
22-07-2025
- Business
- Mint
AI Boom Keeps Key Power Costs at Record on Largest US Grid
Business and households supplied by the largest US grid will pay $16.1 billion to ensure there is enough electricity supply to meet soaring power demand, including that from a massive buildout in AI data centers. Advertisement The payouts to generators for the year starting June 2026 topped last year's record $14.7 billion, according to PJM Interconnection LLC, which operates the grid stretching from the Midwest to the mid-Atlantic. That puts the capacity price per megawatt each day at $329.17 from $269.92. The shares of Constellation Energy Corp. and Talen Energy Corp. increased in late trading in New York on Tuesday. Data centers for AI are driving the biggest surge in US electric demand in decades, leading to higher residential utility bills. That's a key reason why PJM's auction — once only tracked by power traders and plant owners — has become closely watched by politicians and consumer advocates. This is the first auction that included both a price floor and cap, setting the range at $177.24 to $329.17, the level reached in this auction. Last year's 600% jump in capacity prices set off a political firestorm, resulting in PJM reaching a settlement with Pennsylvania Governor Josh Shapiro to essentially cap gains for two years and make auction prices more predictable after wild swings in recent years. Advertisement Despite the increase in costs across the grid, the price cap trimmed costs for consumers who saw the biggest hikes in the last auction. Exelon Corp.'s Baltimore area utility reached a $466 last time, while Dominion Energy Inc.'s Virginia territory came in at about $444. Payouts to generators stayed at high levels due to surging demand from big data centers coming online swiftly, said Jon Gordon, policy director of non-profit clean energy advocacy Advanced Energy United. New facilities are consuming as much power as towns or small cities, coinciding with a wave of older power plants shutting down and lagging investment in new supplies and grid upgrades, he said. The per-megawatt price exceeding the 2024 auction is bullisha for independent power producers including NRG Energy Inc., Talen Energy, Constellation Energy and Vistra, Barclays analyst Nick Campenella had forecast. These generators have spent more than $34 billion so far this year on deals to mainly buy up power plants fueled by natural gas to feed the AI boom especially in PJM. Advertisement ©2025 Bloomberg L.P. This article was generated from an automated news agency feed without modifications to text.
Yahoo
14-05-2025
- Business
- Yahoo
PlanSource Showcases Bold Vision for AI-Driven Benefits Administration at 2025 Eclipse Conference
Annual conference in Orlando brought together the benefits ecosystem to explore the latest innovations, with a focus on AI and human-centered design. ORLANDO, Fla., May 14, 2025--(BUSINESS WIRE)--PlanSource, a leading cloud-based benefits administration technology and service provider, hosted its annual Eclipse conference on May 5–7 in Orlando, Florida. The three-day event brought together hundreds of HR leaders, brokers, consultants, carrier partners, and resellers to explore the future of benefits administration through expert-led sessions, product showcases, and thought-provoking discussions. Building on a strategy the company has been advancing over the past year, PlanSource used Eclipse 2025 to underscore its commitment to transforming benefits administration through artificial intelligence, automation, and human-centered design. Attendees participated in breakout sessions tailored to their roles and heard directly from PlanSource executives on the company's long-term roadmap. Product Innovation Highlights During the keynote, PlanSource leaders shared details on product enhancements planned for 2025, designed to support this vision. Key updates slated to roll out this year include: A redesigned benefits experience that enables seamless navigation across devices, making it easier for employees to explore, understand and engage with their benefits while discovering the coverage and resources most relevant to them. A guided, personalized enrollment journey designed to mirror a modern consumer grade shopping-cart style experience, helping employees make confident, informed decisions. Smarter decision support tools that reduce guesswork and "benefits anxiety" by analyzing individual data to deliver holistic, personalized recommendations. An AI-powered implementation tool that automates plan configuration and eligibility setup, reducing manual data entry and minimizing errors. A virtual assistant for HR administrators that provides conversational, real-time guidance to streamline complex tasks, from enrolling new employees to navigating the PlanSource system. Dynamic, AI-powered dashboards that allow HR teams to query benefits data in plain language and instantly visualize trends, driving faster and more accurate decisions. Inspiring Thought Leaders The event also featured compelling keynotes and breakout speakers, including: Stephen Gates, award-winning design leader and host of The Crazy One podcast, who delivered an inspiring session on applying human-centered design in technology. Jon Gordon, best-selling author and one of the most influential and requested speakers for leadership, culture and positivity delivered an inspiring keynote on the power of positive energy, vision and teamwork to drive personal and professional success. Charlene Li, best-selling author and futurist, who explored the opportunity for AI to transform the way organizations operate and serve their employees. J.D. Piro, nationally recognized health care policy expert and principal at Aon, who unpacked the evolving regulatory landscape and its implications for HR and benefits professionals — offering timely insights into what employers can expect in the year ahead. Momentum Across the Ecosystem "Eclipse is more than a conference — it's a space for our entire ecosystem to come together, learn from each other, and shape what's next," said Mike Morini, CEO of PlanSource. "We're proud of the momentum we've built and even more excited about what lies ahead as we continue to lead the market in AI-driven benefits innovation." Eclipse 2025 also featured product labs, customer panels, and one-on-one sessions with PlanSource experts, giving attendees hands-on experience with the latest enhancements and a direct line into the product development process. To learn more about the Eclipse event and explore highlights, visit About PlanSource PlanSource is a benefits administration technology and services company that is on a mission to make it easier for people to choose, use and manage benefits through engaging, AI-powered experiences. PlanSource solves even the most complex benefits challenges for thousands of customers by pairing a comprehensive suite of strategic administration services with a modern and highly configurable platform. Leading the market in meaningful integration of AI, PlanSource has an unmatched range of ecosystem connections that drive continual innovation and value to clients, partners and consumers. Learn more at PlanSource is a registered trademark of PlanSource, Inc., and PlanSource owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners. View source version on Contacts Cecilia DiazanthonyBarnum Public Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Business Wire
14-05-2025
- Business
- Business Wire
PlanSource Showcases Bold Vision for AI-Driven Benefits Administration at 2025 Eclipse Conference
ORLANDO, Fla.--(BUSINESS WIRE)-- PlanSource, a leading cloud-based benefits administration technology and service provider, hosted its annual Eclipse conference on May 5–7 in Orlando, Florida. The three-day event brought together hundreds of HR leaders, brokers, consultants, carrier partners, and resellers to explore the future of benefits administration through expert-led sessions, product showcases, and thought-provoking discussions. Building on a strategy the company has been advancing over the past year, PlanSource used Eclipse 2025 to underscore its commitment to transforming benefits administration through artificial intelligence, automation, and human-centered design. Attendees participated in breakout sessions tailored to their roles and heard directly from PlanSource executives on the company's long-term roadmap. Product Innovation Highlights During the keynote, PlanSource leaders shared details on product enhancements planned for 2025, designed to support this vision. Key updates slated to roll out this year include: A redesigned benefits experience that enables seamless navigation across devices, making it easier for employees to explore, understand and engage with their benefits while discovering the coverage and resources most relevant to them. A guided, personalized enrollment journey designed to mirror a modern consumer grade shopping-cart style experience, helping employees make confident, informed decisions. Smarter decision support tools that reduce guesswork and 'benefits anxiety' by analyzing individual data to deliver holistic, personalized recommendations. An AI-powered implementation tool that automates plan configuration and eligibility setup, reducing manual data entry and minimizing errors. A virtual assistant for HR administrators that provides conversational, real-time guidance to streamline complex tasks, from enrolling new employees to navigating the PlanSource system. Dynamic, AI-powered dashboards that allow HR teams to query benefits data in plain language and instantly visualize trends, driving faster and more accurate decisions. Inspiring Thought Leaders The event also featured compelling keynotes and breakout speakers, including: Stephen Gates, award-winning design leader and host of The Crazy One podcast, who delivered an inspiring session on applying human-centered design in technology. Jon Gordon, best-selling author and one of the most influential and requested speakers for leadership, culture and positivity delivered an inspiring keynote on the power of positive energy, vision and teamwork to drive personal and professional success. Charlene Li, best-selling author and futurist, who explored the opportunity for AI to transform the way organizations operate and serve their employees. J.D. Piro, nationally recognized health care policy expert and principal at Aon, who unpacked the evolving regulatory landscape and its implications for HR and benefits professionals — offering timely insights into what employers can expect in the year ahead. Momentum Across the Ecosystem 'Eclipse is more than a conference — it's a space for our entire ecosystem to come together, learn from each other, and shape what's next,' said Mike Morini, CEO of PlanSource. 'We're proud of the momentum we've built and even more excited about what lies ahead as we continue to lead the market in AI-driven benefits innovation.' Eclipse 2025 also featured product labs, customer panels, and one-on-one sessions with PlanSource experts, giving attendees hands-on experience with the latest enhancements and a direct line into the product development process. To learn more about the Eclipse event and explore highlights, visit About PlanSource PlanSource is a benefits administration technology and services company that is on a mission to make it easier for people to choose, use and manage benefits through engaging, AI-powered experiences. PlanSource solves even the most complex benefits challenges for thousands of customers by pairing a comprehensive suite of strategic administration services with a modern and highly configurable platform. Leading the market in meaningful integration of AI, PlanSource has an unmatched range of ecosystem connections that drive continual innovation and value to clients, partners and consumers. Learn more at PlanSource is a registered trademark of PlanSource, Inc., and PlanSource owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners.
Yahoo
14-05-2025
- Business
- Yahoo
PlanSource Showcases Bold Vision for AI-Driven Benefits Administration at 2025 Eclipse Conference
Annual conference in Orlando brought together the benefits ecosystem to explore the latest innovations, with a focus on AI and human-centered design. ORLANDO, Fla., May 14, 2025--(BUSINESS WIRE)--PlanSource, a leading cloud-based benefits administration technology and service provider, hosted its annual Eclipse conference on May 5–7 in Orlando, Florida. The three-day event brought together hundreds of HR leaders, brokers, consultants, carrier partners, and resellers to explore the future of benefits administration through expert-led sessions, product showcases, and thought-provoking discussions. Building on a strategy the company has been advancing over the past year, PlanSource used Eclipse 2025 to underscore its commitment to transforming benefits administration through artificial intelligence, automation, and human-centered design. Attendees participated in breakout sessions tailored to their roles and heard directly from PlanSource executives on the company's long-term roadmap. Product Innovation Highlights During the keynote, PlanSource leaders shared details on product enhancements planned for 2025, designed to support this vision. Key updates slated to roll out this year include: A redesigned benefits experience that enables seamless navigation across devices, making it easier for employees to explore, understand and engage with their benefits while discovering the coverage and resources most relevant to them. A guided, personalized enrollment journey designed to mirror a modern consumer grade shopping-cart style experience, helping employees make confident, informed decisions. Smarter decision support tools that reduce guesswork and "benefits anxiety" by analyzing individual data to deliver holistic, personalized recommendations. An AI-powered implementation tool that automates plan configuration and eligibility setup, reducing manual data entry and minimizing errors. A virtual assistant for HR administrators that provides conversational, real-time guidance to streamline complex tasks, from enrolling new employees to navigating the PlanSource system. Dynamic, AI-powered dashboards that allow HR teams to query benefits data in plain language and instantly visualize trends, driving faster and more accurate decisions. Inspiring Thought Leaders The event also featured compelling keynotes and breakout speakers, including: Stephen Gates, award-winning design leader and host of The Crazy One podcast, who delivered an inspiring session on applying human-centered design in technology. Jon Gordon, best-selling author and one of the most influential and requested speakers for leadership, culture and positivity delivered an inspiring keynote on the power of positive energy, vision and teamwork to drive personal and professional success. Charlene Li, best-selling author and futurist, who explored the opportunity for AI to transform the way organizations operate and serve their employees. J.D. Piro, nationally recognized health care policy expert and principal at Aon, who unpacked the evolving regulatory landscape and its implications for HR and benefits professionals — offering timely insights into what employers can expect in the year ahead. Momentum Across the Ecosystem "Eclipse is more than a conference — it's a space for our entire ecosystem to come together, learn from each other, and shape what's next," said Mike Morini, CEO of PlanSource. "We're proud of the momentum we've built and even more excited about what lies ahead as we continue to lead the market in AI-driven benefits innovation." Eclipse 2025 also featured product labs, customer panels, and one-on-one sessions with PlanSource experts, giving attendees hands-on experience with the latest enhancements and a direct line into the product development process. To learn more about the Eclipse event and explore highlights, visit About PlanSource PlanSource is a benefits administration technology and services company that is on a mission to make it easier for people to choose, use and manage benefits through engaging, AI-powered experiences. PlanSource solves even the most complex benefits challenges for thousands of customers by pairing a comprehensive suite of strategic administration services with a modern and highly configurable platform. Leading the market in meaningful integration of AI, PlanSource has an unmatched range of ecosystem connections that drive continual innovation and value to clients, partners and consumers. Learn more at PlanSource is a registered trademark of PlanSource, Inc., and PlanSource owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners. View source version on Contacts Cecilia DiazanthonyBarnum Public


Reuters
07-04-2025
- Business
- Reuters
US utilities grapple with Big Tech's massive power demands for data centers
Summary Companies Utilities face challenges predicting future power demand for data centers Tech companies seek multiple bids, complicating demand forecasts Rising costs and AI advancements may reduce future power needs NEW YORK, April 7 (Reuters) - U.S. electric utilities are fielding massive requests for new power capacity as Big Tech scours the country for viable locations for new data centers, opens new tab to keep up with the compute demands of AI. A Reuters survey of 13 major U.S. electric utility earnings transcripts found nearly half have received inquiries from data center companies for volumes of power that would exceed their peak demand or existing generation capacity - that's everything they supply to homes and businesses – a metric that reflects the sheer size of oncoming data center needs. Now, the power industry is struggling with a question that will determine the course of billions of dollars in investment: how to meet the demand? Utilities have announced billions of additional dollars in capital spending already this year, with some doubling their five-year investment plans. If utilities underestimate the demand, they risk an unstable electrical grid with a higher chance of blackouts for their customers. If they overbuild, consumer rate-payers could end up with the tab. Complicating matters, tech companies are approaching multiple power utility providers within the same state, or across several states seeking multiple bids for the same project, inflating power demand outlooks, investors and other power experts said. "What we're seeing is this huge proposed influx of these abstract projects that nobody knows anything about," Jon Gordon, a director at the clean energy trade group, Advanced Energy United, whose members include clean power and large energy users like data centers. The size and secrecy of the inquiries are making it very difficult for utilities to predict future demand. "The data center process is to have a competitive bid from three companies in many markets," said James Richmond, CEO of e2Companies, an energy management system provider. "That one-third, automatically, is going to win, and two-thirds is going to drop out." BIG DEMANDS In one example, Sempra said that its Texas power utility subsidiary, Oncor Electric, which serves the Dallas area, has received requests to connect an additional 119 gigawatts, which is nearly four times the peak electricity use on its system. Allentown, Pa.-based PPL (PPL.N), opens new tab said it had more than 50 GW of data center requests, including at least 9 GW in advanced stages of development, which is higher than its current generation capacity of 7.2 GW. Oncor said it only includes data centers in its spending plan once it has signed agreements with the developer or operator and has secured collateral in the form of a letter of credit, an affiliate guarantee or cash. "We believe these agreements help incentivize accurate information sharing and the certainty of project planning," company spokesperson Kerri Dunn said. A PPL spokesperson said the company only authorizes spending on a particular project with an agreement in place. In utility Evergy's territory in Kansas and Missouri, the pipeline of additional demand driven by data centers has nearly doubled to more than 11 GW late 2024, which is slightly more than the maximum demand the utility's entire system is expected to see at any one point in 2025. States are beginning to take notice. As a way to gain insight into the swelling demand forecasts, Pennsylvania is considering creating a "clearinghouse" for data center power requests, a representative from the Pennsylvania governor's office said during a recent industry panel discussion. "It's something that we're looking at pretty intensely," said Jacob Finkel, deputy secretary of policy for Governor Josh Shapiro. 'RISK OF OVERBUILD' Big Tech may also decide to abandon projects, which take years to come to fruition, due to inflation, rising interest rates, and scarce land. In 2024, the cost for building a megawatt was nearly $12 million, according to multiple industry sources. But costs to build out data centers have risen sharply since then, Richmond said. Growing capital costs, which may be intensified by tariffs on materials such as steel imposed by U.S. President Donald Trump, may also limit the amount utilities will be able to build to meet demand, said Barclays' analyst Nick Campanella. "There is risk of overbuild," he said. In addition to rising costs, there are also signs the needs of next-generation AI applications may be changing. New AI models like DeepSeek promise to require less compute, and therefore potentially far less electricity, by requiring a small fraction of the chips that are currently being deployed in data centers. Fewer chips could mean less power and infrastructure needed to support them, including the energy-guzzling cooling systems that are among the main reasons why data centers use so much energy. TD Cowen analysts in recent weeks said Microsoft - among the world's top spenders on AI data centers, with plans to invest $80 billion this year - had pulled back from projects representing 2 GW of electricity in the United States and Europe in the last six months.