People should stop citing that paper. It makes the opposite point they think it makes. I think most people just read the first couple of sentences in the abstract.

"We estimate that data centers caused average retail electricity rates to fall modestly in the United States from 2015 to 2024 using an instrumental variables approach."

But the data center backlash really started 2 years ago. It's 2026 now. Getting new energy generation built and approved takes time.

"We caution that future supply constraints could reverse the effect."

There it is.