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E3’s market price forecasts are trusted across the energy industry for their reliability and rigor. Utilities, buyers, developers, and investors rely on our forecasts each year for planning, project evaluation, and financing. Updated annually, our forecasts reflect the latest market conditions, resource costs, procurement plans, policies, and technological advancements.
Join our free 45-minute webinars, one focused on Eastern markets and one on Western markets, where E3 experts will share insights from our latest forecasts. We’ll cover regional trends, drivers of market change, and provide a preview of our outlooks.
All webinar attendees will receive a discount code for E3’s price forecasts in every market.
Our Approach Today’s electricity markets face unprecedented uncertainty, with significant shifts on both the supply and demand sides. Supply-side changes include decarbonization and emerging technologies, while demand-side shifts involve data centers, manufacturing and electrification load growth, increased distributed energy resources, and evolving customer demand.
E3’s market price forecasts reflect a modern, best-in-class approach to simulating and forecasting how these fundamental forces will impact market prices in the near, medium, and long term. Markets are changing fundamentally, which means there’s a need to understand the fundamentals. Since 1989, E3 has maintained a 360-view of the electricity sector by working on in-depth projects with a wide variety of clients, including developers, investors, state agencies, large energy users, and over one hundred utilities across North America. This view allows E3 to focus on the underlying elements shaping and driving the grid and build reliable forecasts that reflect the true state of the energy landscape, and to capture complexities like resource availability, regulatory changes, seasonality, and market-specific idiosyncrasies.
Data Centers, Electrification, and Reliability Needs E3 has incorporated data center-driven load growth into our custom models to support utilities, developers, investors, and system operators. We assist clients with load forecasting, rate design, load interconnection, and resource planning tied to data center expansion.
For technology companies and data center operators, we’ve developed in-house models for siting, interconnection, clean energy procurement, and power supply strategies, including demand response programs.
In 2024, E3 conducted a landmark PJM-wide assessment for Virginia’s Joint Legislative Audit and Review Committee (JLARC) in response to the rapid growth of the data center market in the state. Our analysis utilized our proprietary capacity expansion model (RESOLVE), our loss of load probability model (RECAP), and a cost-of-service study to assess the impacts of data center loads on the grid and on customer bills under various cost allocation approaches. Learn more >
Previous Clients E3’s Asset Valuation and Markets Team has supported many successful transactions spanning utilities, transmission, wind, solar, gas, lithium-ion batteries, offshore wind, and long-duration storage. In 2024 alone, we supported our clients with over 10 GW of successful transactions and more than 25 GW of projects across North America.
Notable client engagements include:
- KKR: $2B strategic partnership with Hannon Armstrong Sustainable Infrastructure Capital
- Global Infrastructure Partners (GIP): $1.1B acquisition of Eversource’s offshore wind projects
- Blackstone: $2.15B investment in NIPSCO
- Macquarie/Ontario Teachers’ Pension Plan: Acquisition of a 31.6% stake in Puget Sound Energy
- InfraRed Capital Partners: 45.75% stake in Texas and Nevada transmission assets
- Amber Infrastructure Group: $545M investment in low-carbon fuels
- Generate Capital: Battery energy storage platform investment (esVolta)
Technical Approach E3 partners with Energy Exemplar, leveraging a customized PLEXOS production cost model and over 10 proprietary in-house toolkits to develop fundamentals-driven forecasts. These tools model load shapes (including data centers, buildings, and electric vehicles), customer adoption of EVs and heat pump upgrades, reliability values of all resource types (ELCCs), behind-the-meter resources, and battery dispatch, enabling robust cause-and-effect simulations for how energy systems are likely to evolve. Learn more about our process here >
A New Administration Our latest set of forecasts offers a robust view of how wholesale power markets will evolve based on current fundamental trends, even with increased uncertainty around federal policy actions from the incoming administration.
E3 expects U.S. power markets to continue to face pressure to decarbonize in the medium- and long-term by relying on an increasing share of renewables and battery storage, but we also expect that fossil-fueled generation will continue to play a key role in the U.S. electricity mix for reliability and to meet increasing levels of new power demand.
The new administration is likely to enact policies which impact U.S. power markets, for example: tariffs on imported equipment and materials, changes to federal permitting requirements, support for fossil fuel production and export, and potential changes to tax incentives under the IRA. Some of these policies may have shorter-term impacts and others may have more sustained effects. U.S. electricity systems will also continue to be driven by policies from states and grid operators, as well as investment choices outside of the power sector (oil/gas production, tech infrastructure, international trade, etc.).
E3’s market forecasts reflect our best data and assumptions for the short-, medium-, and long-term as they are known today, and we will continue to keep close tabs on federal, state, and market policies as well as broader national and international trends as we support our clients in an ever-evolving environment.
Further Reading
- Net-Zero New England: Ensuring Electric Reliability in a Low-Carbon Future. This economy-wide study assesses the resources and innovations six New England states will need to cost-effectively meet emissions reductions without sacrificing reliability.
- Pacific Northwest Low Carbon Scenario Analysis. This study examines decarbonization strategies in the Pacific Northwest, conducted on behalf of hydro-owning public power utilities, with an emphasis on policies that minimize cost impacts to ratepayers.
- California Integrated Resource Plan: Zero-Carbon Technology Assessment. This assessment on emerging zero-carbon firm technologies informs California’s long-term grid planning and supports the state’s zero-carbon electricity goals.