SIOUX FALLS, S.D. (KELO) — Xcel Energy CEO Bob Frenzel said the public should embrace data centers.
“It’s a big fixed asset, the more units of production you put through a fixed asset, the rate for everybody comes down,” Frenzel said. “A large data center load on your system, all things being equal, will drive prices down, not up.”
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Frenzel’s comments are part of a Friday broadcast fireside chat carried online with Neel Kashkari, the CEO of the Federal Reserve Bank of Minneapolis.
Residents in Sioux Falls showed up with heavy criticism of data centers at Tuesday’s city council meeting, where the council voted to rezone land to be used to build a large data center. Gemini of South Dakota LLC wants to build a center on roughly 160 acres south of East Rice Street, east of North Veterans Parkway and west of Six Mile Road. The site was originally outside the city limits of both Sioux Falls and Brandon. The council approved annexing the property in October…