The data-center build-out is now the largest single source of new electrical demand in most developed markets. The question is no longer whether the load arrives — it is which utility, which substation, and which interconnect queue gets there first.
What we examined
We modelled queue position, transmission capacity, and capex commitments across multiple regional grids — alongside the willingness of hyperscalers to fund interconnect upgrades themselves.
Three implications
- The market that wins the next five years of compute is the market that fixes its connection process — not the market with the cheapest power.
- Bring-your-own-grid is becoming the dominant pattern for the largest sites.
- Long-duration storage is moving from optional to load-bearing for the queue economics.