Cost to Build a Natural Gas-Fired Power Plant Surges 66%, BNEF Says

Costs to build natural gas-fired power plants in the US increased 66% between 2023 and 2025 as developers propose building more projects nationwide to meet rising electricity demand, adding to customer and political concerns about rising power bills.

The average project expense for a gas power plant with combined-cycle turbines, the more efficient type, rose to $2,157 per kilowatt last year from less than $1,500 in 2023, according to a report from BloombergNEF.