Shift Key with Robinson Meyer and Jesse Jenkins The Lesson Nuclear Companies Should Take From the Dot-Com Boom
12 snips
Oct 29, 2025 
Skanda Amarnath, executive director of Employ America and former Federal Reserve analyst, joins the conversation about New Jersey's electricity crisis amid the gubernatorial race. He discusses the reasons behind skyrocketing electricity prices and whether the nuclear boom reflects a speculative bubble. The impact of AI on energy demand is examined, along with lessons for today's investors drawn from the dot-com boom. Skanda also shares insights on the feasibility of nuclear restarts and the broader economic landscape.
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Power Prices Drive The Election
- Electricity prices became the key economic issue in the New Jersey governor's race due to steep recent bill increases.
- Skanda Amarnath links this to PJM regional supply shortfalls and aging generation retiring faster than replacement.
Retirements Left A Capacity Hole
- New Jersey lost dispatchable capacity as coal plants retired and replacements lagged, raising prices.
- The state's generation mix shifted toward gas and nuclear, increasing vulnerability to regional capacity shortages.
Data Centers Are Shifting Demand Expectations
- Data centers are creating a new demand inflection in PJM that amplifies capacity-market prices.
- Even if direct impact is debated, anticipated load growth changes market pricing today.