Meta Files For Authorization To Sell Electricity In Wholesale Markets: Report

Meta Platforms Inc. (META) has reportedly filed an application with the U.S. Federal Energy Regulatory Commission (FERC) for an authorization to sell electricity in wholesale markets.

According to a Bloomberg report citing a filing with the regulator, Meta’s application seeks approval “to sell energy, capacity, and certain ancillary services.”

Meta reportedly filed the application through a subsidiary, Atem Energy LLC. According to the report, a Meta spokesperson said that participating in the energy markets was a logical step for the company.

Meta’s shares were down 0.1% in Friday morning’s trade. Retail sentiment on Stocktwits around the company was in the ‘neutral’ territory.

This comes at a time when the power demand has been surging due to the advent of artificial intelligence. According to the report, power demand from data centers used to build and run AI models is expected to quadruple in the next decade.

In a post on Threads, Meta CEO Mark Zuckerberg confirmed that the company is on track to build its one-gigawatt supercluster online.

“We're actually building several multi-GW clusters. We're calling the first one Prometheus and it's coming online in '26. We're also building Hyperion, which will be able to scale up to 5GW over several years. We're building multiple more titan clusters as well. Just one of these covers a significant part of the footprint of Manhattan,” Zuckerberg added.

Meta also disclosed that 100% of its electricity use is matched with clean and renewable energy. 

META stock is up 33% year-to-date and 39% over the past 12 months.

Also See: Pattern IPO To Debut On Nasdaq Today: E-Commerce Accelerator Raises $300 Million At $2.5 Billion Valuation

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