Energy
Over the past years the
energy market in many countries has undergone
dramatic changes. In countries like New Zealand,
Australia, the US, Germany, Austria, and
Switzerland (amongst many others) energy and
especially electricity has become a tradable
commodity. Prices change on a daily basis and
companies active in the energy sector are
obliged to develop business strategies to cope
with a dynamic and volatile market.
The usefulness of energy demand forecasts is
obvious in such an environment. Nowadays
electricity producers and network operators use
forecast systems on a regular basis. In the
following we will outline on which time scales
predictions are needed, what the benefits are,
and which requirements a modern forecast system
has to fulfil. In the last section we give a
brief description of our forecast and modelling
system DECIDE.
|
Download
article here