Starting point How does energy demand develop?
When forecasting gas or electricity demand, it is important to ensure that the grid is always optimally utilized. For objective forecasts, short-term, fine-grained data on an hourly and daily basis can be analyzed. It should also be considered that current weather has an influence on energy demand. How much energy demand should be expected in the coming weeks?
What to do Solution: online forecasting system considering external influencing factors
An automated online forecasting system could, for example, generate daily accurate gas forecasts for the coming weeks on a weekly basis. The forecasts are made using weather data. Multiple seasonalities are modeled as well. With the help of forecast intervals, best and worst-case estimates are made.
Your benefits Benefits: cost savings through optimal supply
- Cost savings and avoidance of investments
- Basis for designing contracts with energy suppliers
- Avoidance of short-term energy purchases from the spot market
Further information Blog article on the topic of 'Energy Forecasting'
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