Energy Demand Prediction
Using the recorded demand histories together with current demand data, an accurate model of Energy demand prediction is created. This information is often used to balance short term energy trades and schedule future energy requirements.
These prediction models have been used both for electricity and gas trading.
Automated Network Nominations
Sometimes it is not enough just to buy or sell energy. Capacity has to be booked on the distribution networks. These Final Physical Nominations (FPN) can be calculated automatically by the system and passed to the network controllers as required.
Similarly the system can also be used to support electronic trading, for example the balance market trading for electricity in the UK, uses a National Grid system known as STOR.
Reporting
Bringing together energy flow and capacity data onto one system gives energy traders easy access to the latest information delivered to their desk. On-line graphical web-pages, SMS alerts and clear printed reports all help energy to make the best decisions.
Also easy access to historical data means that energy bills from trading partners can be reconciled, supply problems can be analysed and information is available for future resource planning.
Optimising Supply
Where companies have their own generation capacity, knowledge of available generation capacity demand and costs of generation allow trading teams to make informed decisions about sourcing their energy requirements.
See also: Case Study: Energy Trading