Diversified and Optimized Energy Forecasts: Managing the New Normal of Market Volatility
In today’s energy market, high volatility has become the new normal, and new regulations in many countries have only complicated things further. However, those with more and better forecasts tend to come out on top. This is where diversified, automated, and optimized energy forecasts come in handy.
At a customer day in Brussels hosted by our partner Energy One, our CEO, Henk De Metsenaere, presented our vision for how these forecasts help companies manage market volatility. Energy One’s CEO, Shaun Ankers, highlighted the importance of advanced and dynamic spot price forecasting for upcoming use cases like battery storage optimization.
The customer day also gave us an opportunity to reconnect with customers like MET Germany, EEP, and Enovos, as well as prospects like BASF and Uniper. Through these interactions, we gained insight into their latest energy forecasting challenges and how our proven Tangent Information Modeler (TIM) can help overcome them.
6 Key takeaways from the event
- Having advanced and diversified forecasting pays off more than ever
- Rolling forecasts that automatically adapt to changes in the data help to fight volatility
- Machine learning that is easy to use puts the power of AI into your own hands
- Optimised and explainable forecasts you control yourself give you a competitive advantage
- Forecasting and anomaly detection go hand in hand
- Having multiple advanced forecasts for different time horizons and angles quickly pays back
About Energy One & our partnership
Our partnership with Energy One, a global supplier of software products and services to wholesale energy and carbon trading markets, began in 2019 when they acquired Egssis. The need for accurate, dynamic, and explainable energy forecasting has only grown since then, and we are proud to serve more customers together than ever before.
As the largest supplier of 24/7 operational energy services in Australia, listed on the Australian Stock Exchange (ASX:EOL), and the second largest in Europe, Energy One is uniquely positioned to facilitate the entry of distributed renewable energy into national markets worldwide.
So, when it comes to managing market volatility in today’s energy landscape, diversified and optimized energy forecasts may just be the key to success.
Optimizing your energy forecasts with TIM
The Tangent Information Modeler (TIM) is an automatic predictive model building engine that automates the forecasting and anomaly detection process by analyzing time series data and generating accurate and explainable models on the fly based on the patterns it detects.
Let’s explore together how you can get more value out of your data for diversified, automated, and optimized energy forecasts.