This is really a state law issue and there's really no solution for spiralling energy costs other than nationalizing utilities or otherwise making them into state or municipal entities, much like municipal broadband.

Take the case of Duke Energy in North Carolina, which illegally raised rates too much. Utilities prices are supposedly regulated but utilities work around this by simply moving costs to things they can charge whatever for (eg transmission costs vs energy costs).

The NC Court of Appeals ruled that Duke Energy's actions were illegal BUT there would be no refunds for customers [1], in part because lawmakers passed a law to allow them to do this retroactively [2]. Also, if Duke Energy had to repay customers they can simply raise prices to recoup those costs even though the money was improperly charged in the first place.

So consumers will keep paying for the infrastructure to connect up these data centers and will keep subsidizing the ongoing energy costs.

[1]: https://www.wcnc.com/article/news/local/no-refunds-for-duke-...

[2]: https://sustaincharlotte.org/press-release-nc-lawmakers-over...