Major asset managers, like BlackRock and Blackstone, are buying power utilities in the US. Some experts worry this could hurt consumers, raise electricity costs, and push a climate-focused energy plan.
Blackstone is seeking approval to buy utilities in New Mexico and Texas, while a BlackRock-led group was approved to buy a utility in Minnesota.
Critics suggest these purchases could be a way for financial giants to implement "climate mandates. "
Experts like Jason Isaac of the American Energy Institute believe this will lead to higher costs and unreliable power.
Electricity demand is rising due to AI and data centers, increasing utility costs.
BlackRock and Blackstone are investing in power utilities and data centers.
Allete's (a utility) partnership with BlackRock includes funding for renewable energy projects.
BlackRock can own up to 20% of utility shares.
Blackstone aims to accelerate decarbonization and invest in the energy transition.
Blackstone plans to invest in Pennsylvania's energy infrastructure to support AI.
ESG investments align with emission reduction goals, potentially leading to the retirement of coal plants.
Experts like Greg Brown say the buyouts are for profit.
Will Hild of Consumers' Research argues that BlackRock's ownership won't benefit consumers.
BlackRock's CEO, Larry Fink, has stopped using the term ESG due to politicization.
James Taylor of the Heartland Institute believes BlackRock can influence energy policy.
An antitrust lawsuit alleges asset managers colluded to reduce coal production.
Some worry that financial firms buying utilities may be using them to advance climate-focused agendas, potentially leading to higher costs and less reliable power for consumers.
https://dailycaller.com/2025/10/13/blackrock-utilities-across-america/
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