Georgia, where data center construction has been booming, has seen rate increases significantly higher than this. IIRC there have been 6 rate increases in the last 2 years, with a 24% increase in 2024 alone.
I don't believe any of this was part of the forecast of 10 years ago, so I would not trust a long-term forecast issued now.
Are there forecasts energy prices will increase 20% long term?