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Summary
In US power markets, critical demand hours are on the rise year-round even as grid managers expect rapid demand growth due to datacenter expansion and electrification. Both grid policies and markets have responded to the challenge but in many ways the gap between reliability and affordability looks set to widen in the near term. The Q4 2025 MI Power Forecast highlights the major drivers of this challenging trend. Topics to be covered include:
- Electric Load Carrying Capability – with reliability premiums growing, how much can solar and wind contribute now and in the future?
- Battery storage – Now deployable at scale, can it solve reliability?
- Organized capacity markets – As prices surge, can grid managers balance affordability and investment signals?
Moderator
S&P Global Energy
Arsalan Gul
Associate Product Manager
Arsalan Gul is a Product Manager within S&P Global Commodities Insights. He has been with the company since 2015. Arsalan has been supporting the energy product within CapIQ pro, helping with client queries and building energy transition financial models. As a product manager, he works on developing the energy product roadmap and building enhancements for new markets.
Arsalan received MSc. Finance & Business Economics from Manchester Business School.
Speakers
S&P Global Energy
Kristin Larson, PhD
Associate Director, North American Power and Renewables
Kristin Larson has used her extensive data science and programming experience to add depth and insight to the Market Intelligence Power Forecast, which estimates generating asset value in U.S. markets. Her publications cover renewable energy, capacity markets, power plant profitability, and energy storage. Previously, Dr. Larson spent over fifteen years in the renewable energy forecasting industry at start-up companies and made long term demand forecasts for Seattle City Light. Her Ph.D. is in Atmospheric Science from the University of Washington and she has a Bachelor of Science in Engineering from Princeton University.
S&P Global Energy
Steve Piper
Director, North American Power and Renewables
Steve Piper is Director of Energy Research with S&P Global Market Intelligence. He has been with the company since 2009. Steve specializes in market price forecasting, economic feasibility assessment, demand forecasting and environmental analysis. Steve manages strategic research and forecasting for SNL Energy’s clients in the utilities, natural gas and coal industries.
Prior to his role at S&P Market Intelligence, Steve held positions at Platts, RDI and RCG/HaglerBailly.
Steve earned a Bachelor of Arts from Grinnell College and an Master in Project Management from the School of Public Affairs at University of Maryland-College Park.
S&P Global Energy
Tanya Peevey, PhD
Principal Analyst, North American Power and Renewables
Tanya Peevey is an analyst with the Power Forecast team at S&P Global Energy creating content for the Cap IQ Pro client facing website, specifically the 20-year power forecast of next-day energy prices and articles with insights on energy markets. Prior to joining S&P Global, Tanya worked 8-years at the National Oceanic and Atmospheric Administration as a research analyst, evaluating the performance of global and regional weather forecasts for the National Centers for Environmental Prediction and the Federal Aviation Administration. Tanya holds a BS in Physics from the University of Texas-Dallas and a Masters and PhD in Atmospheric and Oceanic Science from the University of Colorado-Boulder.
Questions?
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