The International Energy Agency (IEA) has forecast that US investment in coal- and gas-fired power plants will reach roughly $50bn in 2026, as companies rush to build power supply for a surge in electricity demand driven by AI data centres. According to the IEA's outlook, 2026 would mark the first year the US outspends China on fossil-fuel power investment. Analysis shows that while China trims its coal and gas spending, US gas-power investment tripled in 2025 and is expected to keep that momentum through 2026.
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