p a g e 5 Predominance of new loads contributing to growth, that is electricity demand from end - uses that dont currently have a substantial electricity demand footprint. Examples include: Passenger EVs Freight EVs Heat pumps Datacenters H 2 Electrolysis New Manufacturing New loads are more difficult to accommodate in traditional econometric load forecast modeling New loads are definitionally outside the modeled relationships between load and economic variables. Requires bottom - up fundamentals approach Bottom Up vs. Top - Down Load Forecasting