Regulatory & Community Pushback Surge

Backlash has surged past 550 bans (from 300 in weeks), with New York and Texas state-level actions. Texas Bastrop County 1,451-acre project with gas plant faces opposition; Agriculture Commissioner calls for moratorium, Abbott wants guardrails. New utility moves (Exelon queue screening, FirstEnergy $2.7B build with surcharge, Texas co-location curtailment) and NAEC voluntary pledge signal spreading cost allocation risk. Combined with Virginia SCC order, Ratepayer Protection Act, NV Energy lawsuit, and 100+ moratoriums, this is increasing opex and timeline risks for AI datacenter builds.