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Energy Price Forecasting

Better predict demand and prices across multiple forecasting horizons – short, medium and long term. Our estimated service ROI of the predictive capability of

What we do

Forecasting capability impacts multiple business functions in oil and gas producers, energy majors and utilities, from market analysis to production planning and trade support functions. Our Energy Price Forecasting Practice solves a real business problem – how to better predict demand and prices across multiple forecasting horizons (short, medium and long term). It provides low latency, easy to use, highly visual, interactive and informative analytics support for energy professionals. Our solution for energy price forecasting can be delivered as a product or as a service, with estimated ROI from its predictive capability as 25%.

How it works

Pairview developed an energy forecasting methodology that is unique, guaranteeing the highest degree of efficiency and accuracy. We provide short, medium and long term energy price forecasts in a variety of markets of the energy industry.

The short‑term energy market price forecasts have a 10‑day horizon with an hourly interval. The short‑term forecasts are essential for any actor that participates in the daily market: producers, direct consumers, retailers, traders, etc. The main explanatory variables used in the short‑term energy market price forecasts are the demand, which in turn uses temperature and labour as explanatory variables, and the production of the different technologies, including wind, solar, hydroelectric and nuclear energy.

The medium‑term energy market price forecasts have hourly granularity, a 3-year horizon and include probability distributions (stochastic forecasts) for each period (month, quarter and year) within the forecast horizon. Stochastic price forecasting allows analyzing the impact of the variability of the explanatory variables in the mid-term price forecasts, and it is a basic tool for risk management and the determination of Values-at-Risk. The main variables include Temperature, Demand, Wind energy production, Solar energy production, Hydroelectric production, Coal price, Gas price, and CO2 emission rights price.

The long‑term energy market price forecasts have an hourly granularity and 20 years of horizon. The main variables that are taken into account to generate the price forecasts are: Demand, Wind energy production, Solar energy production, Hydroelectric, Nuclear energy production, International interconnections, CO2 emission rights, Fossil fuel prices (Brent, coal and gas), and Foreign exchange rates.

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Consumer Products and Retail
  
Energy and Utilities
  
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Government and Public Sector
  
Healthcare
  
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Manufacturing and Automotive
  
Telecommunications
  
Transport and Logistics

Energy Price Forecasting

Pairview developed an energy forecasting methodology that is unique, guaranteeing the highest degree of efficiency and accuracy. We provide short, medium and long term energy price forecasts in a variety of markets of the energy industry.

The short‑term energy market price forecasts have a 10‑day horizon with an hourly interval. The short‑term forecasts are essential for any actor that participates in the daily market: producers, direct consumers, retailers, traders, etc. The main explanatory variables used in the short‑term energy market price forecasts are the demand, which in turn uses temperature and labour as explanatory variables, and the production of the different technologies, including wind, solar, hydroelectric and nuclear energy.

The medium‑term energy market price forecasts have hourly granularity, a 3-year horizon and include probability distributions (stochastic forecasts) for each period (month, quarter and year) within the forecast horizon. Stochastic price forecasting allows analyzing the impact of the variability of the explanatory variables in the mid-term price forecasts, and it is a basic tool for risk management and the determination of Values-at-Risk. The main variables include Temperature, Demand, Wind energy production, Solar energy production, Hydroelectric production, Coal price, Gas price, and CO2 emission rights price.

The long‑term energy market price forecasts have an hourly granularity and 20 years of horizon. The main variables that are taken into account to generate the price forecasts are: Demand, Wind energy production, Solar energy production, Hydroelectric, Nuclear energy production, International interconnections, CO2 emission rights, Fossil fuel prices (Brent, coal and gas), and Foreign exchange rates.

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