According to Zhitung Finance APP, one of Barclays' "wish list" items for 2025 is to introduce policies to expand and modernize power grid infrastructure to meet the growing demand for electrical utilities. Hiral Patel, head of sustainability and thematic investment at Barclays, wrote in a report: "The increasing power demand driven by ai/datacenters, reshoring of manufacturing, widespread electrification, and cryptos is accelerating investment in power grid infrastructure and driving political momentum for infrastructure permitting reforms."

According to a study by the US Department of Energy's National Transmission Planning, only 55 miles of high-voltage transmission capacity were newly built in the USA last year, and by 2050, the USA's transmission capacity needs to increase two to three times to meet the growth in demand and reliability requirements. The study indicates that this expansion could save approximately 270 billion to 490 billion dollars in energy costs by 2050.

In addition, the International Energy Agency predicts that by 2030, annual power grid spending in countries needs to exceed 600 billion dollars to achieve national goals.

However, Patel also mentioned in the report, "Nevertheless, the fate of FERC Order 1920, aimed at accelerating transmission development and ensuring the reliability of the USA power grid, may face risks under the Trump administration." He added that shortages of key power grid equipment, including electrical transformers and switchgear, may also delay the expansion of the power grid.

Barclays analysts highlighted 17 major global electrification companies as "picks and shovels", which have high exposure to this theme.

These companies are: ABB Ltd. (ABBNY.US), Alfen N.V. (ALFNF.US), Eaton Corp. (ETN.US), Fluence Energy Inc., (FLNC.US), GE Vernova Inc. (GEV.US), Hitachi Ltd. (HTHIY.US), Hubbell Inc. (HUBB.US), MasTec Inc. (MTZ.US), Nexans S.A. (NXPRF.US), NKT A/S (NRKBF.US), nVent Electric Plc (VNT.US), Prysmian S.p.A., (PRYMF.US), Quanta Services (PWR.US), Schneider Electric S.E. (SBGSF.US), Siemens (SIEGY.US), Siemens Energy AG (SMEGF.US), Tesla Inc. (TSLA.US).