PriceFor

Power Price Forecasting

Introduction

PriceFor™ is a day-ahead power price forecasting service delivered by ENFOR™. Currently ENFOR™ provides prices for N2EX in the UK and can also deliver prices for the Nordic regions on request.

 

Why do you need PriceFor™?

Accurate power price forecasts can help electricity traders optimize and plan the portfolio of controllable generation assets and consumption units. When planning complicated assets with external constrains as for example heat production it is beneficial to have good insight into market prices. Production can then be planned more optimal such that revenue is maximized while constraints are still satisfied.

 

Key benefits

  • Accurate power price forecast
  • Up to date forecasts with three daily updates
  • Help optimize dispatching of generation to maximise revenues and efficiency
  • Generate revenues and savings from controllable/flexible assets in your portfolio

 

How does PriceFor™ work

PriceFor™ is a self-learning and self-calibrating software system based on advanced machine learning. PriceFor™ uses historical prices, capacity margins, wind power predictions and consumption predictions to forecast power prices.

N2EX prices are updated three times daily with the last update right before gate closure.

The self-learning and self-calibrating algorithms will continuously learn about the price characteristics and will adapt to changing conditions, seasonal variations and as the market conditions changes, such that forecasts stay accurate over time without the need for manual configuration.

PriceFor™ can deliver power price forecasts in almost any file format and can be integrated directly into the operational IT-platform of the client, such that data are retrieved and delivered seamlessly to and from relevant systems.

PriceFor™ is a service hosted on servers operated and maintained by ENFOR™.

See Our References

You can find our references on the References page.

Additional information

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