POWER · T04

Is power scarcity a warning, or a moat?

Electricity is the constraint, but the premium belongs to whoever can secure permission, build on time and turn a megawatt into revenue before demand catches up.

Questions 5Open 5Call held 0Call missed 0

The questions

1. Settles Dec 10open

   ERCOT is due to verify its first large-load batch study; the cleared list shows whether Texas weeds out speculators or rations power.

2. Settles Dec 31open

   Nebius must turn 800MW–1GW connected against 5GW contracted into Vineland revenue; commissioning and GPU fill test execution.

3. No date yetopen

   A second quarter near 26 blocked projects would turn a single data point into a permitting trend.

4. No date yetopen

   A hyperscaler cancelling for sufficient compute would turn the fiber analogy into evidence of overbuild.

5. Settles Jan 1open

   Bloom staying sold out while FuelCell Energy keeps signing would show scarcity has moved from the grid to factories.

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