Speculation is a well-known technique for increasing parallelism of the microprocessor pipelines and hence their performance. While implementing speculation in modern design practice is error-prone and mostly ad-hoc, this paper proposes a correct-by-construction method for implementing speculation in Elastic Systems. The technique is based on applying provably correct transformations. The benefits of speculation are illustrated with two examples in which these transformations are systematically applied. The method proposed in this paper is amenable for automation in a synthesis flow. Categories and Subject Descriptors: B.5.2 [Register-transferlevel implementation]: Design Aids. General Terms: Design, Theory, Verification.