This is not a theoretical concern, it is happening already.
No, what we should do is put every "large load" electricity customer (including but not limited to these data centers) into their own rate-payer class like they did in Maryland and Oregon instead of lumping them in with everyone else.
Once they are in their own rate-payer class then their rates can be adjusted to pay for the costs of the increased infrastructure that is only needed because they exist (take away data center build-outs and electricity usage is largely flat or falling pretty much everywhere in the US).
I hope the data center developers are paying you to lobby for their ongoing corporate welfare? Because that's what you're basically doing here.