Forecast-quality gate — contract backing at approval:
Strong
Weak / speculative
Regulated rate-base buildout behind the data-center demand forecast
Data-center load
Atlanta buildout
Large-load contracts
28 projects · 11 GW
+ filed demand forecast
PSC certification
~9,885 MW new generation
~$16.5B build
Forecast-quality gate
minority of certified MW
backed by executed contracts
Rate-base capex
recovered via bills
Bill recovery
tariffs pay it
Regulated earnings
capex recovery, ROE
earnings loop feeds demand
Speculative build
minority backed
by executed contracts
Affordability
~$3.4B · ~$20
per household / month
Regulatory / ROE
risk reopens