The U.S. electric power sector is navigating a period of profound and accelerated change, defined by the collision of a rapid, top-down federal policy realignment with an unprecedented, bottom-up demand shock. Events between August 8 and August 11, 2025, reveal an industry at a critical crossroads, grappling with fundamental questions of reliability, affordability, and the pace of the energy transition. Three dominant themes emerge from this period: a dramatic policy whiplash at the federal level that is creating significant uncertainty; a demand shock, driven primarily by the explosive growth of artificial intelligence (AI) and data centers, that is straining grid infrastructure and upending load forecasts; and the persistent influence of geopolitical risk on global energy markets.