Amperon, the leading provider of AI-powered energy forecasting, is expanding its solutions to now offer price forecasting. As energy prices grow increasingly volatile, Amperon’s new price forecasting tools empower market participants to optimize load risk management, asset operations, financial trading, and battery dispatch strategies with greater accuracy.
Amperon’s price forecasting leverages the company’s award-winning demand and net-demand models, which are the result of years of dedicated innovation and expertise. Built on a foundation of industry-leading accuracy, these models apply the same rigorous data science, real-time analytics, and deep market insights that have set a new benchmark for precision in the industry. With this proven foundation, Amperon’s price forecasting offers unparalleled reliability, surpassing existing market capabilities and establishing a new standard for the energy sector.
Driven by the rise of solar and wind power and more frequent extreme weather events, wholesale electricity prices have become more unpredictable, with peak prices often occurring later in the day. The intermittent nature of renewable energy sources further contributes to price volatility, particularly during periods when generation ramps down. These shifts can increase costs for utilities and market participants when conventional forecasting tools fall short in predicting demand and price fluctuations.
Also Read: Intel & AWS Boost U.S. Chip Manufacturing with New Deal
“Until recently, market participants lacked accurate tools to forecast future power prices in increasingly volatile power markets,” said Sean Kelly, Co-Founder and Chief Executive Officer of Amperon. “Now, our customers are able to depend on accurate price forecasting to participate and succeed in the market, whether that’s meeting their obligations at the lowest possible cost, constructing the optimal battery dispatch strategy, or optimizing bids during periods of high volatility.”
Amperon’s AI-driven technology excels in identifying emerging patterns within complex datasets, allowing for highly accurate price forecasts despite the rapidly evolving dynamics of the power grid. Initially available for participants in Texas’ ERCOT power market, Amperon’s price forecasts will soon expand to cover additional markets.
SOURCE: PRNewswire