Kinder Morgan, Inc.: Expected Growth in Power Demand Positively Impacting Future Revenues!

Kinder Morgan’s latest quarterly earnings confirmed that the company had a robust quarter. The Chairman of the Board, Mr. Rich Kinder, highlighted the growth potential in the demand for natural gas, driven substantially by the increasing demand from new and expanding data centers, especially those required to support Artificial Intelligence (AI). There were already projections of a 13% to 15% compounded annual increase in electric demand to power data centers through 2030. Data centers, which used about 2.5% of US electricity in 2022, are projected to use about 20% by 2030, with AI estimated to consume around 15% of that demand by the end of the period.