The Challenge
Accurate and timely short-term forecasts are needed to provide critical decision support for grid operators and participants to succeed in today’s increasingly dynamic energy markets. You may need daily, hourly or sub-hourly power and natural gas forecasts for forecast horizons of five minutes ahead to several months ahead to support your utility systems, transmission zones, city gates, substations or feeders and possibly even individual delivery points. As the world continues to change and you need to include demand response programs and events along with solar and wind generation, forecasting becomes even more complicated and challenging.
Itron Approach
Throughout the world, Independent System Operators (ISOs), Transmission System Operators (TSOs), utilities, municipalities, cooperatives and energy retailers rely on Itron systems to deliver accurate, real-time power and natural gas forecasts. This powerful capability is now available as a cloud-based forecast service running on the
Microsoft® Azure platform and operated by Itron forecasting experts.
With this approach, Itron is responsible for system and model maintenance and monitoring. All you need to do is provide up-to-date energy data, and Itron delivers updated forecasts to your desktop or mobile device as frequently as you need them using a customized mix of advanced forecasting methods from neural networks and non-linear multi-variate regression to the newer ensemble forecasting techniques.
You get the power and accuracy of the Itron system with Itron’s proven modeling expertise in a secure, scalable system without incurring the upfront cost of acquiring hardware, software or the on-going cost of operating and maintaining the system.
Click to watch a short demo video about Itron's Forecast as a Service (FaaS) offering and let us know how we can help deliver customized forecasts just for you.
Benefits
- Costs savings for set up, operation and management
- Unparalleled forecast accuracy
- Real-time forecast performance tracking
- Scalable, secure and agile
- Available 24/7
