US Congress Members Demand Suspension of AES's $33 Billion Deal

A group of US Congress members is asking the energy regulator to halt the sale of AES. The deal's value, including the company's debt, amounts to approximately $33.4 billion, making it one of the largest deals in the energy sector in recent years.

BlackRock's subsidiary Global Infrastructure Partners, Sweden's EQT, and their partners agreed to acquire AES in March. The deal requires approval from the federal regulator before it can be completed.

Senator Elizabeth Warren and other lawmakers say the deal could raise electricity prices for consumers. They estimate that electricity demand is rising rapidly due to data centers, and part of the additional costs could ultimately fall on the public.

Electricity demand in the US is at one of its highest levels in recent years. One of the main reasons for this is the rapid growth of data centers, which require large amounts of electricity. The increased demand has boosted interest in energy companies and driven up the number of major deals in the sector.

Source: Reuters