AleaSoft’s Interview within the Spanish Newspaper Cinco Días
Interview with Antonio Delgado Rigal, Artificial Intelligence PhD and Director General of AleaSoft, within the Spanish Newspaper Cinco Días published on Wednesday November 25th, 2015.
“Our forecasting methodology is based on highly reliable scientific calculations”
After a 16-year-path into the market, from its foundation in 1999 as the first company in which the UPC held a stake until now, where it occupies a leadership position in Europe within the segment of the energy forecasting industry. AleaSoft faces its future with vigour and optimism, planning to expand its outreach in order to convert itself as the top company of the sector on a global scale.
“We are devoted to making forecasts for the energy sector, especially consumption, wind and sun production and energy market price forecasts”.
Since its first year, AleaSoft has had an organic growth, being one of its peculiarities.
Indeed, our development has always been steady and we have been making profits ever since our first year in which we were present in the market. AleaSoft was created in 1999 as a spin-off of the Polytechnic University of Catalonia (UPC) and was the first company in which the academic institution became part of its shareholding, having to change its own status.
How have your activities evolved?
Since our origins we have been making forecasts for the energy sector, furthermore, following the energy renewable bloom, we also covered wind production forecasts, and later, solar energy forecasts.
Why are these forecasts so important for energy companies?
Our general forecasting methodology is based on highly reliable scientific calculations. This way, we help businesses generate forecasts of energy demand, wind and solar production, as well as, market price forecasts at a short term (240 hours: resulting to be essential in order to schedule production; in such a way that if the price forecast is very low, it is more profitable not to produce energy). At a midterm (a three-year-hourlyhorizon), it is used to plan and estimate the hourly billing. Furthermore, at a long term (between 10 and 20 years), forecasting are very useful for the investors in order to know the profitability of future acquisitions or sales.
Do you develop all the methodology you use?
Yes, at AleaSoft we work with our own methodology, by using the so-called Alea Models, which combine aspects of Artificial Intelligence with classic statistics and the Box-Jenkins time series. For this purpose it is essential to carry out high investments in R&D, this is why our staff is composed of several doctors who are specialized in the modelling field, both in production and energy prices. This fact enabled us to position ourselves as leaders in the energy industry both in Spain and the rest of Europe.
After leading Spain and Europe, have you thought about taking the final leap into the global market?
Since our origins we have maintained an organic growth with our own financial means in order to get to lead the Spanish and the European market. Our most significant projects for next year focus on taking the leap into a number of American and Asian countries and the method for achieving this is mainly based on studying several proposals to establish collaboration agreements with local partners.