New researchPJM's Reliability Backstop and the Bifurcated Retail Rate Outlook
Research

Published analysis from Sitara's analytical work.

Research notes, market analysis, and methodology pieces from the work behind our forecasts. Substantive technical writing for practitioners who run the numbers.

All publications
May 13, 2026 9 min read
Rakesh Puram

The 2025 BGE Capacity Rate Shock: A Component Decomposition Study

The June 2024 PJM auction cleared BGE zone at $466/MW-day, more than six times the prior year. The path from wholesale auction to residential bill is the case study.

Maryland
May 13, 2026 11 min read
Rakesh Puram

PJM's Reliability Backstop and the Bifurcated Retail Rate Outlook

The April 10 proposal places 84% of the procurement target in four data center growth zones. For community solar underwriting, this is not one retail rate story. It is at least two.

PJM
April 7, 2026 5 min read
Rakesh Puram

The Flat Escalator Problem: A BGE Case Study

The actual 2025 BGE residential rate was $191/MWh. A flat 3% escalator on the 2020 rate would have projected $133. That is a $58 gap in five years. Here is why.

Maryland
June 24, 2025 8 min read
Rakesh Puram

Meeting the Moment: Opportunity in PJM's Large Load Era

Data centers and AI infrastructure are reshaping the Mid-Atlantic. PJM's large-load workshop signals a turning point. Forward analysis across capacity, retail, and wholesale dimensions is no longer optional.

PJM
May 21, 2025 6 min read
Rakesh Puram

Policy Retrenchment or Market Reset?

The House reconciliation bill would repeal key IRA provisions. For IPPs and infrastructure investors, the question is whether this dismantles the clean energy business or recalibrates where projects make sense.

Federal Policy
May 18, 2025 6 min read
Rakesh Puram

The Capacity Scarcity Era Arrives: MISO's $666/MW-Day Auction

Summer 2025/26 cleared at 22x the prior year and 67x the year before that. Not a fluke. A structural signal.

MISO
March 30, 2025 7 min read
Rakesh Puram

Forecasting in a Capacity-Constrained Future

Load growth from AI, data centers, electrification, and reshoring is outpacing generation additions. In organized markets with forward capacity auctions, that gap is translating directly into higher rates.

Markets
February 21, 2025 5 min read
Adriana Puram

Duke Energy: Insights for Hyperscalers and High-Load Consumers

Duke Energy's finalized rate cases, grid investments, and renewable initiatives present both opportunities and challenges for hyperscalers looking to enter Duke's footprint.

Carolinas