Short-term energy market price forecasting

At AleaSoft, we offer short-term energy market price forecasting, covering up to a ten-day horizon. The forecasts have 15-minute, half-hourly and hourly granularity, depending on the market.

These forecasts serve as a guide for operating in the day-ahead market, as well as to optimise and plan energy production and consumption, therefore they are useful for electricity generators, utilities, direct consumers, retailers and traders.

The forecasts are offered in product format and service format.

• The product format consists of installing an application that operates automatically, both for data updating and for obtaining forecasts.
• The service format consists of daily delivery, 365 days a year, of updated forecasts of prices and the main explanatory variables.

The main explanatory variables used in short-term energy market price forecasts are demand, which in turn uses temperature and working day patterns as explanatory variables, and the production of different technologies, amongst which are wind, solar, hydroelectric and nuclear.

AleaSoft forecasts are based on the Alea methodology, which is a unique methodology for energy forecasting, guaranteeing the highest degree of efficiency and accuracy. This methodology has been in use for more than 27 years in some of Europe’s most important energy sector companies. The Alea methodology combines Artificial Intelligence, analysis of time series and statistical models.