The bipartisan Ratepayer Protection Act aims to force AI data centers to fund their own power infrastructure, creating a significant tailwind for nuclear energy firms and SMR developers like Oklo and NuScale Power.
Oklo is highlighted as having an edge because it sells SMRs directly to AI companies, making it a direct beneficiary of data center power cost rules.
NuScale Power is explicitly named as a popular SMR stock that should benefit if the Ratepayer Protection Act pushes data centers to procure independent power generation.
GE Vernova is building next-generation SMRs and stands to win if data centers are required to pay for their own power infrastructure.
Vistra operates around 6.5 gigawatts of nuclear generation and should benefit from increased data center demand for independent power as the bill advances.
Bloom Energy designs modular power plants deployable near data center infrastructure, positioning it to benefit from the same policy despite not being nuclear-focused.
The U.S. House of Representatives has passed the Ratepayer Protection Act with a 417-3 vote, aiming to shift infrastructure costs from residential consumers to large-scale AI data centers. This legislative shift is expected to accelerate demand for independent power generation, specifically benefiting nuclear energy providers and small modular reactor (SMR) developers as data centers seek to secure reliable, long-term energy sources.
The bill mandates that large data centers (100 megawatts or more) pay for the construction of their own power sources and transmission infrastructure, preventing these costs from being passed on to residential ratepayers.