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QR Price Forecast

QR Price Forecast is one of the modules of QR Analytics. We integrate in a single web-platform data and high-performance analytics.

Price Forecasting for ISO, RTO and Power Pools. Multiple models and configurations can be defined, maintained and executed. E.g., we offer realtime, day-ahead, medium and long term price forecasting solutions as a cloud service for worldwide ISOs and electricity markets.
No permanent license, maintenance fee, or lengthy and costly implementation. We offer one single all inclusive competitive price for license, analytics models, upgrades, support and configuration.

Advanced Forecast Models

Our state-of-the-art proprietary forecasting platform uses a hybrid architecture of artificial intelligence and evolutionary algorithms. Multiple curves and indicators can be used as inputs. These can be added and removed with a mouse click. Here are some typical examples:
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    Historic ISO prices, energy spot and reserves, real-time, day-ahead, sub-hourly, prior to a period quotes (in some markets). These can be nodal LMP (Locational Marginal Price), or LWAP (Load Weighted Average) zonal, hub or region prices.
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    ISO provided price forecasts if any, day / look ahead.
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    Load forecast: nodal, zonal, hub, region or system.
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    Outage and plant availability.
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    Multiple weather data indicators.
  • Additional Input Configuration

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    Rolling forward indicators, such as previous hour, yesterday same hour, last week same day and hour, yesterday 24 hour average, last week average.
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    Calendars to filter out and interpolate weekend and holiday effects.
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    Start and end date for training or calibration of the model.

Calibration Back-testing

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    Detailed MAPE error analysis is provided on back testing.
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    Input curves and indicators are ranked in order of effectiveness, so that the model can be fine tune and improved.
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    Actual data and forecast are gathered in live real-time "Data Panels" with plots, tabular display and export capability to csv.

Custom Price Forecasting

Make your own price index by creating a mixed basket of nodal, LMP, zonal, hub or region LWAP prices. Then the index is evaluated at run-time. When defining index formula, you specify min and cap values. Any value in the basket outside this range is discarded at run-time. The index can then be pointed to a price forecasting job and be trained on the index data.

Flexibility

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    Our technology and methodology are universal and market agnostic.
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    Model configurations and estimated parameters are visible and auditable. Results are saved individually.
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    Multiple security access levels are defined for users.
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    Extensive import and export capabilities are offered.
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    Solution runs automatically at every market period.
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    Analytics models are monitored and enhanced continually.

Process Automation

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    QR Connectivity Bridge automates data fetching and management. E.g., electricity load and price data from ISOs, power pools, SCADA and meter systems.
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    Seamless integration with trading, scheduling and optimization.
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    Forecasting jobs can be set to run automatically as part of interconnected network of business processes.

You can acquire this module in several ways:

QR Electricity Price Forecast as a Cloud Service

This cloud service requires no software implementation on your end. All you need is a browser. It is operational and runs numerous electricity markets worldwide. Leverage many existing well calibrated models and reports. We continually maintain data, and models.
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    Option 1: Use QR Price Forecast as a stand-alone cloud service.
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    Option 2: Use QR Price Forecast as part of QR Power ETRM platform.

On-site Implementation

Is an alternative for larger companies using your own IT resources and team to operate the system. You can still benefit form a lightening fast implementation leveraging the above templates.