With 20 years developing energy forecasting, AleaSoft faces the new challenges of the renewables
AleaSoft, April 3, 2019. AleaSoft, European leader in energy forecasting, celebrates its 20th anniversary. 20 years of experience in the sector that allow, in the current revolution of renewable energies, to establish synergies between companies and offer strategic energy consulting.
Alea Business Software (AleaSoft) was founded in October 1999, as a spin-off of the Polytechnic University of Catalonia (UPC), which was a founding partner, becoming the first company that had the participation of the UPC as a shareholder.
The company was born in the context of the liberalisation of the European electricity markets and was the result of research projects at the UPC in Artificial Intelligence and Statistics in the field of energy forecasting. Throughout all these years, AleaSoft has become the European leader in the field of prices and demand forecasting, mainly for gas and electricity.
For 20 years, AleaSoft has devoted great resources to technological innovation, Artificial Intelligence, Statistics and Soft Computing.
AleaSoft’s solutions, in the form of applications and services, are used to forecast market prices, electricity demand, renewable energy production such as wind and solar (photovoltaic and solar thermal) and in general any type of forecasts needed in the energy sector.
AleaSoft offers price forecasting services at the short-term (10-day horizon), the mid-term (22-month horizon) and the long-term (up to 20-year horizon). Associated to the mid-term price forecasting service, in a complementary way, a service of probabilistic forecasts with stochasticity is also provided, consisting in indicating the probability of occurrence of the spot market prices in the different temporary aggregations that correspond to the products traded in the futures markets, useful in decision making and risk management.
On the other hand, in the current renewable energies revolution, especially the photovoltaic and the wind energy in Spain and Europe, where the challenges posed by the European Union impose the implementation of this type of energy, it is essential to carry out this process in an organised and planned way to avoid risks, hence the importance of having a vision of the future in the medium and long-term.
Taking advantage of these 20 years of experience in the Spanish and European electricity sector, in AleaSoft, which is constantly growing and evolving, it was decided to increase the range of services. In addition to the energy forecasts, synergies are being created related to a vision of the future of the sector and providing a strategic consulting service and training to customers, mainly large consumers, which allows decisions on investments, supplies and strategies to manage the price volatility risks. The objective of the consultancy is to minimize the risk and reduce the annual electricity bill by at least 3%.
AleaSoft’s success in these 20 years led it to have as clients the main companies in the energy sector, such as Acciona, Axpo, BBE, Canadian Solar, Endesa, Elia, Engie, Fortia, Iberdrola, Naturgy, REE, Repsol, Shell, Siemens-Gamesa, Statnett, Trina Solar and Viesgo, among others.
Source: AleaSoft Energy Forecasting.