As technology shrinks, the importance of the communication architecture in the overall system performance and power consumption increases dramatically. In this work, a framework is developed to estimate the consumption in point-to-point interconnect structures at high levels of abstraction. To model the effect of cross coupled capacitances, the spatial correlationbetween adjacent wire lines is considered together with the transition activity, and both are efficiently estimated using word-level statistics. Based on a set of increasing complexity stochastic data models, an analytical estimation procedure is proposed and validated with both synthetic and real data sets. Extensive bit level simulations have been carried out to show the accuracy of the proposed models.