Moiseus Infrastructure Brief — No. 01
Every week we cut the noise to a handful of stories that matter — and add what they mean from where we sit. This is our read, not a news wire.
FERC orders grid operators to fast-track how data centers connect to the grid
Federal regulators directed PJM and other grid operators to promptly reform — or justify — the rules governing how large loads like data centers interconnect to the power system.
The interconnection queue — not the chip supply — is the real gatekeeper. When the regulator forces the door open, whoever already holds ready, interconnected power moves years ahead of the field.
AI data-center loads are rewriting the utility playbook
Utilities and grid operators say hyperscale AI is forcing faster, larger-scale transmission and interconnection planning than the system was ever built for.
Power procurement has gone from a utility footnote to the central strategic variable. The moat is no longer the building — it’s the megawatts feeding it.
National Grid puts $1.75B into dedicated gas power for a 2 GW Microsoft data center
National Grid’s commercial arm agreed to invest $1.75 billion for a stake in a developer building dedicated, behind-the-meter power for a 2-gigawatt Microsoft data center in Texas.
The bottleneck is electrons. Dedicated, behind-the-meter generation — with gas as the bridge fuel — is becoming the scarce, ownable asset that gets compute online now rather than at the back of a decade-long queue.
PJM issues max-generation alerts and moves data centers onto backup power
Facing record peak demand, the PJM grid operator issued maximum-generation and load-management alerts and acted to shift data centers onto backup generation.
Emergency curtailments show the supply gap isn’t a forecast — it’s operational today. Durable scarcity like this rewards the developers who locked in land and power early.
Four different stories, one signal: the constraint in AI is no longer intelligence — it’s power, land, and the patience to hold real assets through a decade-long build-out. That is exactly where Moiseus looks.
This material is for general informational purposes only. It is market commentary and reflects our own views. It is not an offer to sell or a solicitation of an offer to buy any security, and it is not investment advice. Moiseus Capital Corp is not currently offering securities. Third-party headlines are summarized and attributed to their sources; all trademarks belong to their respective owners.