Sold by: Nagarro
Stay Ahead in Energy 4.0: Master the energy transition with precise renewable energy & power market price forecasting for smarter trading & higher profits!
Leverage Nagarro’s in-house accelerator, ElectriVue AI, to generate short term forecasts (24-36 hours) for solar power generation and power market prices, for different market products such as day ahead market (DAM) and fifteen-minute market (FMM) energy across power markets.
Overview
A customized AI-powered solution that forecasts power generation & market prices, reduces uncertainties and provides actionable outcomes – that can be measured, explained and improved.
Empowering power traders with control over power generation and price forecasting tools unlocks significant opportunities in today’s dynamic electricity marketplace. Customizable forecasting models informed by market insights enable optimized trading strategies, effective risk management, and financial success. By directly shaping their tools, traders gain a competitive edge, ensuring resilience and growth in an evolving market.
For key players in the power industry such as independent power producers (IPPs), power utilities, and electricity retailers – success hinges on their ability to accurately bid in the electricity marketplace, thus enhancing their portfolio profitability and operational efficiency.
ElectriVue AI leverages robust and battle-tested AWS services such as AWS S3, EC2, RDS (Aurora), AWS Lambda, AWS CloudFront, AWS Cognito, etc.
Key features:
- Short term RE (solar) generation forecasts for day ahead and real-time scenarios
- Hourly power market price forecasts for DAM and FMM
- Track bid status across power generation portfolio
- Data insights to create and submit power bids, timely and efficiently
Benefits:
- Informed trade decisions
- Efficient bidding operations
- Enhanced predictive accuracy
Highlights
- Out of the box components to expedite implementation. Includes in-house base forecasting service (Forecastra Core), evaluation metrics, etc. which is built on open-source Databricks and Apache Spark.
- Machine Learning models based on XGBoost, Prophet etc. which are setup to get progressively smarter by periodically integrating new data.
- Customized feature engineering which is optimized for energy markets to attain better outcomes (Features like energy mix, weather conditions, and fuel indices were included).
Details
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Pricing
Custom pricing options
Pricing is based on your specific requirements and eligibility. To get a custom quote for your needs, request a private offer.
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Please reach out to us at energyutilities+aws@nagarro.com