The FCC’s Upper C-Band NPRM appears straightforward—unlocking 100 to 180 MHz. Yet the consequences of that range diverge sharply: incremental for terrestrial networks, but structural for satellite incumbents. That gap is what drives pricing, incentives, and strategic choices going forward.

When we think about meeting our growing demand for energy, the interconnection process is as important as the plants themselves. At Forward Market Design, we believe that system operators can improve interconnection by adopting a price-first approach.

Granular forward trade incentivizes a more responsive grid The U.S. electricity grid faces unprecedented load growth. Earlier this year, Texas grid operator ERCOT forecast new data centers would add 77 GW of load to the grid between 2025 and 2030, driving a 121% increase in total load. Even the