Trump is set to team up with governors from the northeastern states of the U.S. to instruct the nation's largest grid operator to conduct emergency electricity auctions. Under this plan, tech behemoths will be mandated to cover the expenses associated with building new power plants. This action marks a rather atypical foray into the U.S. electricity market, with the primary objective of tackling the surge in electricity demand and mitigating the problem of data centers pushing up electricity prices.

It is anticipated that relevant measures will be unveiled on Friday in the form of a 'Statement of Principles.' This document will be signed by the National Energy Dominance Committee and certain state governors. The proposed initiative will encourage grid operators to hold reliability-focused electricity auctions. This will give tech firms and hyperscale cloud service providers the chance to bid for 15-year contracts for new power - generation capacity.

White House officials have indicated that if the plan gets the green light, its scale could be immense. The contracts would support the construction of new power plants worth an estimated $15 billion.