And these aren't hypothetical problems. Back in 2014, a private equity company in Michigan bought out a public utility, then turned around and quickly started raising rates. Soon enough, The 52,000 customers in Michigan who used this utility were paying over 40% more for their electricity than the average rate of utilities in other parts of Michigan. So let's do a recap here. Right now, private equity companies are buying up lots of utility companies. They're likely making a play to profit off the AI boom by buying data centers and by buying utility companies that power them. (03:26–03:40)
CLAIM
Asserts that customers of a Michigan utility paid over 40% more than the state average after a private equity buyout.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
