Baseline

A set of reference data used as a basis for comparison with future observed conditions, or characteristics of future conditions projected under a reference scenario as a basis for comparison with future conditions under alternate scenarios. Though it represents a starting point when dealing with foresight, the annual baseline does not constitute a forecast, but rather a benchmark of what could happen under a particular set of assumptions. Inherent uncertainties, including policy changes, weather, and other market variations, ensure that the future is highly unlikely to match baseline projections.