Energy consumption forecast & purchase optimisation for tomorrow
By putting Precog-IP on the market, we solved something that seemed to be unforeseeabl beforee. We involved actors of the energy market into our R&D activity of several years and as a result, we harmonised energy consumption with its production and purchase.
Although the need for electricity, natural gas and district heating is influenced by numerous factors, our solution helps to decrease the risks stemming from different sources of energy market.
Precog-IP forecasts the expected energy consumption and makes recommendations for purchasing and selling of wholesale energy products, while keeping the financial risk of the portfolio at a minimum level. Due to its numerous functionalities, it supports consumer segmentation and internal pricing. Moreover, it easily analyses the current (ATC), the future (flow-based) and the transitional (hybrid) EU regulation of interconnected national electricity markets.
Generating an hourly forward price curve, mainly for forecasting day-ahead prices and analysing future open positions.
Modelling and forecasting hourly and daily (consumption) volumes by mainly considering the complex effects of weather variables.
This is an algorithm which supports wholesale decision-making by enabling the optimal hedging of open positions – it happens through calculating with risks as well as considering the limits of market liquidity.
Creation of homogeneous consumer groups based on consumption and non-consumption-based features.
It provides an opportunity to analyse the international electricity flow deriving from day-ahead auctions and the consequent prices, as well as to carry out sensitivity analysis.
Generating the internal price (so-called transfer price) for the support of the selling process by the enforcement of the so-called portfolio effect which is the advantageous situation caused by consumers of different profiles listed in one portfolio.