Short Term Price Forecast - Product Overview
FORECASTING
1 min read
Product Brief
Bright Grid Analytics offers a comprehensive price forecasting solution by combining advanced generation and load/demand forecasts, natural gas price data and additional market insights. Our models integrate diverse datasets and cutting-edge machine learning techniques to deliver actionable insights for energy market stakeholders.
Our price forecasting leverages:
Generation Data: Historic generation data, asset-specific metadata (capacity, location, and technical specifications), and weather data (radiation, temperature, wind speed, cloud cover, and more).
Load Data: Individual or aggregated meter data, forward meter counts, usage trends, and weather forecasts optimized for location-specific meter conditions.
Natural Gas Price Data: Historical and market-projected pricing trends for natural gas.
Forecasting Process
Bright Grid Analytics integrates high-quality third-party generation, load, price, and weather predictions with our own predictions to create proprietary ensemble models for accurate forecasts. Machine learning identifies correlations and patterns across input variables, including seasonal and temporal trends, to create precise forecasts.
Our system combines the load/demand and generation forecasts into a unified model, factoring in natural gas price volatility and other market insights. This enables robust price predictions critical for financial trading, market planning, and risk management.
Outputs
Forecasts are refreshed hourly and accessible through:
Platform Dashboards
Platform CSV Export
API Export
Accuracy
Our forecasts are rigorously evaluated, and weightings are continuously optimized to ensure the highest accuracy. Connect with the Bright Grid Analytics team to benchmark the performance of our price forecasting models.
Coverage Across North America: AESO, IESO, CAISO, ERCOT, ISONE, MISO, NYISO, PJM, SPP and bilateral markets.
For more information, contact Bright Grid Analytics at info@brightgridanalytics.com.