SMStock & Milster

INTELLIGENCE CENTER · U.S. ENERGY

U.S. Energy Intelligence Center

Live institutional dashboard tracking national power markets, retail and industrial electricity pricing, natural gas exposure, generation mix, renewable build-out, demand growth, and AI / hyperscale load acceleration — synthesized for capital allocators.

LIVE · EIA FEEDSREFRESH · 15 MINSOURCES · EIA / FERC / ISO-RTOCLASS · INSTITUTIONAL

SECTION · 01

National Power Market Overview

Composite snapshot of U.S. wholesale and retail electricity conditions across the seven major ISO/RTO footprints.

U.S. Avg LMP

$42.18

/MWh · 7-day blended

Peak Load

682 GW

Summer-equivalent baseline

Reserve Margin

14.7%

NERC composite

Capacity in Queue

2.6 TW

Active interconnection studies

EIA Electricity Data Browser

EMBED · API-READY

WIDGET CONTAINER

EIA Electricity Data Browser

REPLACEABLE WITH LIVE EIA EMBED OR API MODULE

SOURCE: U.S. ENERGY INFORMATION ADMINISTRATION

EIA.GOV

SECTION · 02

Commercial Electricity Price Trends

Trailing-twelve-month commercial sector retail pricing trajectory, indexed against regional CPI and natural gas basis differentials.

U.S. Avg

13.4 ¢/kWh

+4.1% YoY

Northeast

18.7 ¢/kWh

+6.2% YoY

Southeast

11.2 ¢/kWh

+2.8% YoY

Mountain West

10.6 ¢/kWh

+3.4% YoY

EIA Retail Sales / Price by State — Commercial

EMBED · API-READY

WIDGET CONTAINER

EIA Retail Sales / Price by State — Commercial

REPLACEABLE WITH LIVE EIA EMBED OR API MODULE

SOURCE: U.S. ENERGY INFORMATION ADMINISTRATION

EIA.GOV

SECTION · 03

Industrial Electricity Price Trends

Industrial sector tariff trajectory — the cleanest proxy for siting cost competitiveness across manufacturing, refining, and hyperscale operators.

U.S. Avg

8.3 ¢/kWh

+3.2% YoY

Texas

6.7 ¢/kWh

+1.4% YoY

PJM West

9.1 ¢/kWh

+4.7% YoY

California

16.4 ¢/kWh

+7.9% YoY

EIA Retail Sales / Price by State — Industrial

EMBED · API-READY

WIDGET CONTAINER

EIA Retail Sales / Price by State — Industrial

REPLACEABLE WITH LIVE EIA EMBED OR API MODULE

SOURCE: U.S. ENERGY INFORMATION ADMINISTRATION

EIA.GOV

SECTION · 04

State-by-State Power Cost Heat Map

Geospatial overlay of retail cents-per-kWh by state — cross-referenced against transmission headroom, queue density, and utility rate-case posture.

RETAIL ¢/kWh · STATE GRID

LOWMIDHIGH

SOURCE: U.S. ENERGY INFORMATION ADMINISTRATION · ILLUSTRATIVE

EIA State Energy Profiles

EMBED · API-READY

WIDGET CONTAINER

EIA State Energy Profiles

REPLACEABLE WITH LIVE EIA EMBED OR API MODULE

SOURCE: U.S. ENERGY INFORMATION ADMINISTRATION

EIA.GOV

SECTION · 05

Natural Gas Price Exposure

Henry Hub spot, regional basis, and storage trajectory — the single largest variable input to U.S. wholesale electricity formation.

Henry Hub

$3.42

/MMBtu · spot

Waha Basis

-$0.86

vs HH · Permian

Storage

3,612 Bcf

+4.1% vs 5y avg

EIA Natural Gas Prices

EMBED · API-READY

WIDGET CONTAINER

EIA Natural Gas Prices

REPLACEABLE WITH LIVE EIA EMBED OR API MODULE

SOURCE: U.S. ENERGY INFORMATION ADMINISTRATION

EIA.GOV

SECTION · 06

Generation Mix by State

State-level fuel composition — gas, nuclear, coal, hydro, wind, solar, storage — used to forecast emissions exposure and dispatch stack risk.

FUEL COMPOSITION · % GENERATION

GasNuclearCoalHydroWindSolarStorage
TX
CA
FL
PA
NY
IL

SOURCE: U.S. ENERGY INFORMATION ADMINISTRATION

EIA Wholesale Electricity Market Data

EMBED · API-READY

WIDGET CONTAINER

EIA Wholesale Electricity Market Data

REPLACEABLE WITH LIVE EIA EMBED OR API MODULE

SOURCE: U.S. ENERGY INFORMATION ADMINISTRATION

EIA.GOV

SECTION · 07

Renewable Capacity Growth

Quarterly renewable additions across utility-scale solar, onshore wind, and battery storage — filtered for IRA-eligible siting corridors.

Solar Added

31.4 GW

TTM · utility-scale

Wind Added

8.2 GW

TTM · onshore

Storage Added

14.7 GW

TTM · 4-hr equiv.

Curtailment

4.3%

ERCOT West avg

EIA Short-Term Energy Outlook

EMBED · API-READY

WIDGET CONTAINER

EIA Short-Term Energy Outlook

REPLACEABLE WITH LIVE EIA EMBED OR API MODULE

SOURCE: U.S. ENERGY INFORMATION ADMINISTRATION

EIA.GOV

SECTION · 08

Electricity Demand and Load Growth

National and regional load growth — the first decade of structural U.S. demand expansion since the late 1990s.

5-YEAR FORWARD LOAD CAGR · BY ISO

PJM
2.4%
ERCOT
4.8%
MISO
1.9%
SPP
2.7%
WECC
3.1%
SERC
2.2%
NYISO
1.4%

SOURCE: U.S. ENERGY INFORMATION ADMINISTRATION · ISO-RTO PLANNING DOCS

SECTION · 09

AI / Data Center Power Demand Watch

Hyperscale and AI-training campus pipeline — announced, permitted, and energized — overlaid against utility interconnection capacity.

Pipeline

94 GW

Announced 2024–2030

Permitted

38 GW

Interconnection cleared

Energized

11 GW

Operating · AI-class

Avg Campus

412 MW

Median nameplate

HOTSPOTS

Northern Virginia (PJM DOM)

11.4 GW

Queue saturation; 5–7 yr energization lag

Central Texas (ERCOT)

9.8 GW

Permitting fast-track; gas-coupled siting

Phoenix / Tucson (WECC)

6.2 GW

Solar+storage co-location preferred

SECTION · 10

Stock & Milster Strategic Interpretation

Executive commentary translating the dataset into capital allocation, siting, and infrastructure positioning theses.

POWER · STRUCTURAL

Industrial pricing dispersion is the dominant siting variable through 2030.

Spread between cheapest and most expensive industrial markets has widened ~38% since 2022. Hyperscale, advanced manufacturing, and electrified industrial loads will increasingly underwrite siting decisions on the basis of 10-year delivered cost, not headline rates.

STOCK & MILSTER · STRATEGIC DESK

GENERATION · CAPITAL

Gas remains the marginal fuel — but financing is migrating to firm-shaped renewables.

With storage durations clearing 6 hours economically and curtailment rationalized via co-location, the firm-shaped renewable stack is now bankable at scale. Gas keeps the reserve margin honest; renewables increasingly clear the energy stack.

STOCK & MILSTER · STRATEGIC DESK

DEMAND · INFLECTION

Load growth is no longer cyclical — it is structurally re-baselined.

AI training, onshored manufacturing, electrified transport, and crypto reload have moved national load growth from <1% to a 2.5–3.5% trajectory. Utilities are under-resourced for this regime; transmission becomes the binding constraint.

STOCK & MILSTER · STRATEGIC DESK

POLICY · RISK

Rate-case posture is the under-priced institutional variable.

Commission orientation, ROE trajectory, and demand-charge structure now drive 200–400 bps of delivered-cost variance across otherwise comparable utility territories. Treat regulatory posture as a first-class siting input.

STOCK & MILSTER · STRATEGIC DESK

ENGAGEMENT

Convert the dataset into a deployment thesis.

Bespoke briefings provision vendor-licensed market data, scoped scoring models, and intelligence delivery under NDA for institutional capital and infrastructure operators.