Aleasoft’s Interview with the Spanish Newspaper Expansión
Antonio Delgado Rigal, the Director General of AleaSoft, was interviewed by the Spanish Newspaper Expansión, which published the article on Thursday 25th June. Below you can find the original version of the interview.
AleaSoft is the leading forecasting solutions company in Spain, specifically for demand and price forecasting within the energy market. The company was founded in 1999 as a spin-off of the UPC after the liberalization of the electricity market that occurred in 1997, at a time when companies needed to have precise solutions for demand and price forecasting.
AleaSoft is the first company which was created with the Innova program promoted by the UPC, the head of which is Antonio Delgado Rigal, one of the founders of the firm. His career has always been linked to research and teaching.
“WE PROVIDE OUR CLIENTS WITH PRICE AND DEMAND FORECASTING WITHIN THE ELECTRICITY MARKET”
What kind of forecasts are you specialized in?
We have two main types of forecasts: demand and price forecasting within the electricity market.
In the first case, we produce electricity consumption forecasts at a national level, regional, specific to a client or a big consumer. We also make wind, hydro, solar and gas forecasts. We usually provide all variables used in a market which range from the price of commodities, the production by technology to weather variable forecasts.
As regards electricity price forecasting, we work with the most important markets in Europe: MIBEL in Spain, EPEX SPOT in France and Germany, IPEX in Italy, N2EX in the UK, just to name a few.
What is the profile of your clients?
We started working with big companies in Spain such as: Endesa, Iberdrola, Gas Natural Fenosa and Viesgo. Later we also offered our services to companies like Shell, BBE and Electrabel (GDF Suez Group). In addition, we also provide smaller companies with market price forecasts. Furthermore we are present in a variety of European countries, such as, Italy, France, UK, Germany, Holland, Belgium, Norway and Eastern Europe.
TSOs (Transmission System Operators) are some of our clients with a unique profile: the operators of high-voltage electrical networks are responsible for monitoring the entire flow of electricity in their respective countries, matching all that is generated with all that is consumed in real time. We work with several TSOs in Europe, such as: REE (Spain), Statnett (Norway), Terna (Italy) and Elia (Belgium). For these entities the accuracy of demand forecasts is essential.
Your experience in energy forecasts led you to develop your own methodologies and tool…
We created a methodology for forecasting with a new model called the AleaModel, which consists in integrating existing methodologies originating from Statistics and Artificial Intelligence.
We have developed products and services to provide electricity demand and price forecasts at the short, medium and long term and a platform for all types of forecasts in the energy sector that range from demand, production by technology, including wind, solar and hydropower production to market price forecasting for electricity or gas.
What are your next goals? Which strategies will you use to achieve them?
We are consolidating our position in Spain and Europe to improve the quality of our forecasts and access new markets. In order to improve our quality we continue to invest in R & D. In addition, we are developing products and services for the entire energy sector, from big companies to end consumers.
Our medium term objective is to be a global company. After Europe, we will expand our outreach in American and Asian markets. Right now we are growing with our own resources but when we reach our goal in other continents we will need investors.