Disclosed are embodiments of a system and of an associated method for estimating the leakage current of an electronic circuit. The embodiments analyze a layout of an electronic circuit in order to identify all driven and non-driven nets within the electronic circuit, to identify all of the driven net-bounded partitions within the electronic circuit (based on the driven and non-driven nets), and to identify, for each driven net-bounded partition, all possible states of the electronic circuit that can leak. Then, using this information, the embodiments estimate the leakage current of the electronic circuit. This is accomplished by first determining, for each state of each driven net-bounded partition, a leakage current of the driven net-bounded partition and a probability that the state will occur in the driven net-bounded partition during operation of the electronic circuit. Then, for each state of each driven net-bounded partition, the leakage current of the driven net-bounded partition and the state probability are multiplied together. The results are then aggregated.