210. Rural Co-ops Navigate a New Era of Load Growth, Rising Costs, and Policy Pressure

After decades of flat electricity demand, the U.S. power sector is suddenly racing to keep up—and rural electric cooperatives are on the front lines. In this episode of The POWER Podcast, Jim Matheson, CEO of the National Rural Electric Cooperative Association (NRECA), joins executive editor Aaron Larson to discuss how roughly 900 co-ops serving 42 million people across 48 states are navigating surging data center load, supply chain pressures, and a shifting regulatory landscape. Matheson explains what makes the co-op model distinctive—not-for-profit, consumer-owned, and locally governed—and why affordability isn't a talking point but an operational imperative for utilities that serve 92% of America's persistent poverty counties. He then digs into the generation debate, drawing a key distinction between always-available sources like coal, gas, and nuclear, and intermittent resources like wind and solar, and makes the case for local flexibility over federal one-size-fits-all mandates. Other topics covered in the conversation include: • Why Matheson believes viable power plants shouldn't be retired before replacement capacity is in place. • The long-term outlook for nuclear, the status of small modular reactors, and a notable Michigan plant restart driven by two co-ops. • Where energy storage fits today—and what a true long-duration breakthrough would unlock. • How global supply chain pressures and tariffs are driving up costs on everything from turbines to meters. • NRECA's 2026 policy priorities, including EPA rule rollbacks, permitting reform, raising the USDA Rural Utilities Service lending cap, and FEMA reform. • The contractual and operational complexity of onboarding hyperscale data center loads, and why existing consumers shouldn't subsidize them. • How roughly 200 co-ops are now bringing broadband to underserved rural areas—a modern echo of 1930s rural electrification. Whether you're tracking the AI-driven load boom, policy developments in Washington, or the unique role cooperatives play in the U.S. electric sector, this conversation offers a clear-eyed view from someone who represents member-owned utilities covering 54% of the nation's land mass.