However, Wallach said he thinks the Trump administration is no rush to deliver certainty to the market.
"It seems pretty clear that barring some pretty radical change, that the Trump administration is just going to try to downplay the emissions control as much as it thinks it can get away with," he said. "It seems like they are just inclined to make climate just disappear from the discussion as much as is possible."
That view is echoed by Craig Moyer, chair of the land, environment and natural resources group at law firm Manatt, Phelps & Phillips.
"I think the delay accomplishes the goals of this administration. It can stamp its legacy on the future without ever having to create its own program," he told CNBC in an email.
The Trump EPA's repeal doesn't inject much fresh uncertainty into the market because the industry has been dealing with lack of direction since the Supreme Court stayed implementation of the Clean Power Plan. In his view, utilities and states have not made expensive structural decisions based on its guidelines. Further, a new rule will come with new, extended deadlines for compliance, he added.
David Cherney, energy and utility consultant at PA Consulting Group, said many power generators baked a repeal by Trump into their strategic planning. However, that will not necessarily stop progress toward cleaner-burning fuels.
"We are likely to see (and have seen) the banner of climate leadership taken up by the clean energy inclined states — we are likely to continue to see more movement there," Cherney told CNBC in an email.
The regions forging ahead most stridently are the Northeast, the Mid-Atlantic and the Western states, said Littell.
In the absence of regulatory certainty, analysts say, power companies are likely to follow the only signal available to them: the market. That will likely mean continuing to retire coal-fired plants and investing in cheap natural gas and solar and wind farms, where costs are falling fast.
"Withdrawing the Clean Power Plan won't clear the deck for new coal generation. The economics of natural gas and renewables are more favorable, now and in our future scenarios," Steph Munro, Bloomberg new energy finance policy editor, said in a statement.