Measured Depth

Measured Depth

Is power load growth stalling?

What weather-normalized EIA 930 data suggests about recent power trends

Amber McCullagh's avatar
Amber McCullagh
Feb 24, 2026
∙ Paid

Power load growth has been the biggest driver of gas demand growth in recent years, well before coal retirements began to slow. Data centers and electrification have supported both accelerating growth and an even more bullish narrative: that power demand is on a structurally stronger trajectory, and gas demand will follow.

But that assumption is startin…

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