{"hero":{"code":"MT","dominant_iso":null,"markets_tracked":1,"name":"Montana","operational_mw":0.0,"pipeline_mw":0.0,"verdict":"AVOID"},"is_pro":false,"iso_breakdown":[],"kpis":{"dominant_iso":null,"markets_tracked":1,"median_lease_rate":null,"median_lease_rate_error":"UndefinedTable: relation \"powered_shell_pricing\" does not exist","total_facilities":16,"total_operational_mw":0.0,"total_pipeline_mw":0.0},"live_as_of":{"age_hours":1.6,"iso":"2026-10-20T01:02:32.657156+00:00"},"ma":[],"ok":true,"operators":[],"outlook":{"generated_at":"2026-10-20T02:35:48.482553Z","narrative_md":"**Billings:** Billings remains a skeletal market with minimal infrastructure and severe operational constraints. The tracked facility footprint stands at 8 properties totaling 0 MW of measurable capacity\u2014a figure that underscores the market's nascent development stage. Iconnect Montana operates two facilities, while Cogent Communications, Parsec Data Management, and YRIX each maintain single-property positions, indicating extreme fragmentation and no clear market leader. The absence of any recent M&A activity reinforces that Billings has attracted neither consolidation interest nor institutional capital deployment.","rationale":"Aggregated from per-market deep-dive narratives.","verdict":"AVOID","word_count":79},"paywall":{"blurb":"ISO Breakdown, Transmission Build-Out, State Policy / Tax Incentives, Top Operators, and M&A activity are unlocked with the DC Hub plan with every tool, all states.","checkout_url":"/pricing?utm_source=state_brief","required_tier":"PRO"},"policy":null,"redirect_to":null,"requested":"montana","state":"montana","state_code":"MT","state_name":"Montana","tier":"FREE","top_markets":[{"brief_url":"/markets/billings/brief","computed_at":"2026-10-20T01:02:32.657156+00:00","constraint_score":23.4,"excess_power":48.5,"iso":"WECC","name":"Billings","slug":"billings","state":"MT","verdict":"AVOID"}],"transmission":null}