FINAL RECOMMENDATION TO A DATA-CENTER DEVELOPER Model period: 2025-01-01 to 2025-12-31. Hypothetical 100 MW peak facility. RECOMMENDATION Proceed to phased site and supplier due diligence, rather than a construction commitment based on this model alone. Obtain quotes for a 70 MW block-plus-index structure and a fixed-price alternative before choosing a supply contract. 1. LOCATION AND DELIVERY MISO Indiana Hub was $1,088,223 lower on energy alone in the modeled period. This does not establish which state or site has the lowest total cost. Compare confirmed energization dates, connection costs, site-specific prices, utility tariffs and reliability requirements before selecting a location. 2. CONTRACT STRUCTURE The 70 MW block covers 77.8% of modeled annual electricity use. In the assumed +30% gas stress, the PJM annual cost increase falls from $3,746,477 under index-plus-adder to $832,550 under block-plus-index. That supports seeking block quotes for partial price protection, not claiming guaranteed savings. Request a fixed-price alternative if budget certainty is the priority. All three observed annual totals tie because the rates use same-period historical averages; actual offers may differ. 3. CAPACITY AND UNDERUTILIZATION The assumed +50% capacity-price stress adds $2,737,500 per year even with fixed energy pricing. For a qualifying new site in Ohio Power Company (AEP Ohio) territory, price the signed ramp and minimum-demand obligations before reserving capacity. In the historical primary-service example, sustained 50% load adds $2,642,775 to the distribution/customer component versus an actual-demand reference. Its billing path is 85 MW x 11 months; 82.5 MW x 1 month, assuming a previous 100 MW peak and no new peak. The ramp uses its separate 85%-of-agreed-ramp rule. These 2025 tariff rates are not current quotes or complete utility bills, and this Ohio tariff is not assigned to MISO. 4. FLEXIBILITY Assess whether a 20% reduction in 10 high-system-demand hours is operationally feasible without violating service commitments. Gross modeled energy-related savings under index-plus-adder are $48,112 for PJM and $46,046 for MISO, before curtailment or implementation costs. Peak hours were selected retrospectively; actual savings depend on prediction and execution. Do not assume this removes the monthly utility-demand floor or guarantees capacity-charge savings. 5. BEFORE APPROVING CONSTRUCTION Confirm service voltage, utility-approved ramp and contract term, complete demand riders and taxes, exit terms, collateral and liquidity requirements, and binding infrastructure cost responsibilities. Obtain dated supplier quotes and evaluate low-utilization cash flow. Keep collateral funding separate from annual operating expense. The model does not yet include enough site-specific inputs to approve a build or promise a cheapest contract.