PowerSchedO for UC Forecast
Forecast for consumption units in the wholesale energy market
PowerSchedO for UC Forecast allows you to draw up forecasts for consumption units for the wholesale energy market.
Ideal for small and medium-sized companies that need a simple tool to operate independently: it manages data for Terna and GME, speeding up daily activities, and uses specific algorithms, adapted free of charge to regulatory changes, to improve the quality of forecasts. Choose to independently manage the risk of imbalance without suffering it! Contact us and request a free personalized demo
PowerSchedO for UC Forecast: consumption forecasts for the wholesale market
Why make consumption forecasts
The difference between forecast and actual consumption generates an imbalance which is subject to economic valorisation by Terna and generally produces an additional cost. So making good predictions helps reduce the risk of penalties .
- public lighting
- measured hourly
- load profile
What you need to make consumption forecasts
Good data is essential to make good predictions. Some are naturally owned by the market operator
while others are to be acquired from an external supplier.
The operator must have, separated by market area and consumer component, with hourly granularity, of:
- the consumption data of its customers
- the composition of the customer portfolio
From an external supplier, the operator acquires data that help improve the quality of forecasts:
- forecast of temperature in urban centers where the customer portfolio is concentrated
- the holidays that affect consumption and energy-intensive production activities
How to use data for consumption forecasts
Have coupons data is only half of the recipe. The fundamental factor that influences the effectiveness of consumption forecasts is the software used for the elaboration of the forecasts.
The processing of forecasts is a daily activity. In this way you are guaranteed to always use the best data to obtain quality forecasts. Excel macros or software written in R or a company ETRM procedure are often used: these are all valid tools as long as the data we use, the models to ensure the financial effectiveness of the forecasts, adherence to the legislation for the enhancement of imbalances.
How to get great predictions
Power SchedO for UC Forecast is the specific solution for processing consumption forecasts for the wholesale energy market.
Automatically acquires Terna data to generate forecasts ready for appointment (also in XML for their transmission) using specific algorithms for the three consumption categories . Our team follows the regulatory changes and appropriately adapts the product, supporting the customer in updating activities. It is a stand-alone product, installable on a PC, with low set-up and maintenance costs.
Beyond consumption forecasts: financial risk management
The combination of Power SchedO for UC Forecast and Power SchedO for zModel guarantees companies with small and medium-sized customer portfolios a recovery of imbalance penalties.
The imbalance of consumption units is valued in such a way as to generally penalize imbalances.
Therefore, it is important to combine the minimization of the imbalance volume with an accurate management of the financial risk generated by the uncertainty of consumption forecasts.
Power SchedO offers the possibility of combining the UC Forecast with the solution Power SchedO for zModel which manages the financial risk associated with forecast errors .
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Power SchedO for UC Forecast
Find out in more detail how PowerSchedO can support your scenario planning activities and give new impetus to your business results.