Big Tech firms such as Amazon, Meta, Microsoft and Google are set to meet President Donald Trump at the White House today to sign an energy pledge aimed at keeping electricity prices under control.
“We’re telling the major tech companies that they have the obligation to provide for their own power needs,” Trump said during the State of the Union address.
The new “ratepayer protection pledge” is to be launched ahead of the November midterm elections and is expected to include a commitment by technology companies to bring or buy electricity supplies for their data centers.
This will either be from new power plants or existing plants with expanded output capacity, according to Reuters sources.
A White House official said Google, Microsoft, Meta, Oracle, xAI, OpenAI and Amazon will sign the pledge.
“President Trump’s ratepayer pledge will deliver more affordable, reliable and secure energy for the American people and help stop the rising electricity prices that started during the previous administration,” Energy Secretary Chris Wright reportedly said in a statement.
According to Reuters, the pledge will also include commitments from Big Tech to pay for upgrades to power delivery systems and to enter into special electricity rate agreements with utilities.