Independent advisory for colocation, GPU and data center projects

A reply within 24 hours

Research and Data

Metro Colo Advisory ResearchIndependent Data on Data Center Power, Cost and Networks

Our research team builds each tracker from utility filings, regulatory dockets, FCC notices and earnings materials, and links every figure to its source. The data is free to use and cite.

Browse the Research
Five open datasetsEvery figure linked to its sourceFree under CC BY 4.0

Updated November 2026.

Our research mandate

Metro Colo Advisory Research is the work of our in-house research team, built to answer the three questions our clients pay us to answer.

We build every tracker from primary documents, keep each source's own definitions, and link each figure to the filing it came from. All of it is free to download and cite.

5Open datasetseach with a CSV download, four with a DOI
52Utilities trackedplus 6 grid operators on data center power
105Rate filingslarge-load tariffs and contracts in 45 states
1,060AT&T wire centersin 18 states where copper service can end from Nov. 15, 2026
Featured in
  • Al Jazeera
  • Fortune
  • The Daily Upside
  • Yahoo Finance
  • Data Center Knowledge
  • Moneywise
  • KCTV5
  • Energy Changemakers
  • Data Center POST
  • VMblog
See the coverage
Advisory

Put the Research to Work

The same work behind these trackers is what clients hire us for: finding capacity that is actually powered, and testing whether a site's power is real before money is spent.

Data center consultingFixed-fee reviews of power, site and cost for owners, developers and investors.Explore consulting →
Wholesale data center colocationMegawatt-scale space with power that is running, not promised.Explore wholesale →
GPU colocationHigh-density space for GPU clusters, and which facilities can power them.Explore AI and GPU →
Powered shell buildingsBuildings with utility power committed, ready for a data center fit-out.Explore powered shell →
Build-to-suit data center projectsFacilities built to your specification, with the power commitment tested first.Explore build to suit →
Current research

Trackers and Datasets

Each one answers a single question with sourced numbers, and each is updated as new filings come in.

Flagship tracker · Updated quarterly

AI Power Reality Check

How much data center power US utilities say has been requested, how much is under signed contract and how much is actually running, quarter by quarter, in each utility's own words. Includes a log of named data center power deals before state regulators.

52utilities, plus 6 grid operators
184quarterly rows since Q3 2025
28named data center power deals
  • CoverageInvestor-owned utilities, cooperatives, public power and grid operators across the US
  • SourcesEarnings slides, SEC filings, grid operator reports and state regulatory filings
  • DOI10.5281/zenodo.24086660
  • UpdatedAfter each earnings season; latest figures from third-quarter 2026 filings
  • FormatInteractive scoreboard, two CSV files, CC BY 4.0

Each figure keeps the utility's own definition, the page or slide it came from and the date it refers to. Utilities are never added together.

Big Tech · Updated each earnings season

Big Tech Data Center Lease Tracker

Data center leases Microsoft, Meta, Oracle and Alphabet have signed but not yet started, quarter by quarter since 2023, with the start dates, lease terms and exact filing wording behind every figure.

$1.14Tin signed leases not yet started, up 3.7 times in a year
  • SourcesSEC 10-Q and 10-K filings
  • CoverageQ1 2023 to Q3 2026
  • FormatInteractive chart and CSV
Regulation · Updated as filings change

Data Center Electric Rates

How data centers and other very large customers pay for power, utility by utility: large-load tariffs, data center rate classes, special contracts, decision dates and the household bill impacts each state has stated.

105filings and proceedings in 45 states
Telecom · Updated with FCC notices

Copper Landline Retirement

Where AT&T, Verizon and other carriers have filed with the FCC to retire copper landline service, with every filing linked and a lookup of affected wire centers by state.

1,060AT&T wire centers in 18 states where service can end from Nov. 15, 2026
Market data · 2026 edition

Data Center Cost

What it costs to build, lease and run a data center in North America: cost per megawatt and per watt, lease rates, power use and power cost, AI hardware prices, vacancy and delivery timelines.

54sourced figures, from build cost per megawatt to lease rates
  • SourcesPublished market reports, filings and pricing pages
  • DOI10.5281/zenodo.23652508
  • FormatGuide with four CSV files
In the press

Where Our Research Has Appeared

Our data and analysis have been quoted, cited or published by these outlets.

The Daily UpsideQuoted on which companies a data center construction moratorium would hit first.Read the article
Al JazeeraQuoted on why rising electricity bills drove opposition to data centers in the 2026 US midterms.Read the article
FortuneQuoted on hyperscalers moving data center projects to wherever power shows up first, including Brazil.Read the article
KCTV5 and WIBWLinked our AT&T landline retirement tracker in coverage of the Nov. 15 shutoffs.Read the article
Moneywise and Yahoo FinanceCited our guide to data center lease terms in coverage of Big Tech AI commitments.Read the article
Data Center KnowledgeQuoted on why available data center space is often not usable for high-density AI.Read the article
Energy ChangemakersQuoted on bridge power for data centers waiting on the grid.Read the article
Data Center POSTPublished our analysis of what an AI capacity search finds in today's market.Read the article
VMblogPublished our 2027 outlook on selective cloud repatriation.Read the article
Standards

How We Build Our Research

1

Primary documents only

Figures come from utility filings, SEC filings, regulatory dockets, FCC notices and grid operator reports. News coverage is used only to find those documents.

2

The source's own words

Each figure keeps the label and unit its source uses, the page or slide it appears on and the date it refers to. We do not add up figures that use different definitions.

3

Independent review before release

Before each tracker is published or updated, we run a separate review that re-opens the source documents and tests every headline figure against them.

4

Corrections in public

When a figure is wrong, we fix it on the tracker and in the downloadable data. Send the document and page number through our contact page.

Independence

Metro Colo Advisory funds its own research. The firm earns fees from fixed-fee consulting and is paid by data center and network providers when it places a client with them. No provider pays to be included in our research, and no provider reviews it before it is published. Our trackers cover utilities, regulators and public filings, not operators.

For reporters and researchers

Use, Cite and Ask Us

All of our data is free to use under a Creative Commons Attribution 4.0 license. Credit Metro Colo Advisory and link to the tracker the figures came from.

How to cite

Use the tracker name and the date of the data.

Citation formatMetro Colo Advisory, "[Tracker name]," data as of [date], [page URL]. License: CC BY 4.0.
About Metro Colo AdvisoryMetro Colo Advisory is an independent data center advisory firm. It publishes open research on data center power, electricity rates, costs and network infrastructure, including the AI Power Reality Check and the Data Center Electric Rates tracker, and advises companies on colocation, AI infrastructure and data center sites. Research and data: https://metrocoloadvisory.com/research/

Request data or comment

We answer in writing, by email.

What we can provideA cut of any tracker for your state, utility or market; the source document behind any figure; and written comment on data center power, costs and infrastructure.
Research leadJames Mercer leads research at Metro Colo Advisory, which publishes the AI Power Reality Check and a tracker of data center electric rate filings in 45 states.

Is the power at your site real?

A utility pipeline is not a contract, and a contract is not a connection. We review what a utility has actually committed to a site, whether it is raw land, a powered shell or a build to suit project, before owners, developers and investors commit capital. Fixed-fee engagements start at $45,000. We reply within 24 hours.

See Data Center Consulting
Open data

Get the Raw Data

On each tracker

Every tracker has a CSV download with the source link, page and exact wording for each figure.

Zenodo

Versioned archives with permanent DOIs for long-term citation, each with a README and data dictionary, linked from each dataset above.

Questions

Frequently Asked Questions

Is Metro Colo Advisory research free to use?

Yes. Every dataset is free to use, including in news coverage, research and commercial work, under a Creative Commons Attribution 4.0 license. Credit Metro Colo Advisory and link to the tracker the figures came from.

Who does the research?

Metro Colo Advisory's in-house research team, led by James Mercer. The same team supports the firm's clients on data center power, sites and capacity, so the trackers are built from the same kinds of documents we read for client work.

Where does the data come from?

From primary documents: utility earnings materials and SEC filings, state regulatory dockets, FCC filings and grid operator reports. News coverage is used only to find those documents. Every figure links to the document it came from, with the page or slide where it appears.

How often is the research updated?

The AI Power Reality Check is updated after each utility earnings season. The electric rates and copper retirement trackers are updated as new filings and notices are posted. Each page shows the date its figures refer to.

Who pays for this research?

Metro Colo Advisory funds it. The firm earns fees from fixed-fee consulting and is paid by data center and network providers when it places a client with them. No provider pays to be included in the research or reviews it before publication.

How do I report an error or request a data cut?

Use our contact page and include the document and page number for any correction. We publish corrections on the tracker itself. Reporters can also request a state or utility cut of the data, or written comment, and we reply within 24 hours.

Page updated November 2026.