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Proprietary electric power data and intelligence that deliver market advantage
Daily reports for buyers and sellers to manage risk, minimize cost, and enhance profitability
Used by power market participants for more than a decade, Genscape’s Market Intelligence service combines advanced, proprietary* modeling technology (SEER) with fundamentals based analytics to create daily reports that allow customers to make more informed buy/sell decisions in order to manage risk, minimize cost, and enhance profitability. The Market Intelligence product serves a wide range of market participants including, physical and financial power traders, congestion and virtual traders, retailers, analysts, regulators, and government entities.
The suite of products covers PJM, MISO, NYISO, NEPOOL, ERCOT, CAISO, SPP, and WECC, forecasting the real-time, next-day, balance-of-week, next-week (PJM and MISO), balance-of-month, next-month, and one year (WECC) markets.
Each day, Genscape’s team of 50 analysts, meteorologists, and technologists prepare early morning reports and interact extensively with clients to:
- Optimize buy/sell of physical power and identify trading opportunities in the physical power, financial swap, virtual, and congestion-driven markets
- Issue demand and wind forecasts using proprietary neural network models and our in-house meteorological team
- Deliver regional hub power price predictions, highly accurate in aggregating over 55,000 pieces of information daily
- Analyze congestion risks for multiple hubs and zones
*SEER is Genscape’s proprietary analytical modeling platform to help improve the quality and scope of its analysis and predictions
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The PowerIQ products feature:
- Daily Hub & Zonal power price forecasts & risks/scenarios
- In depth congestion analysis, including forecasted constraints & transmission outage commentary
- Hourly Demand Forecasts, including wind generation forecasts
- Access to experienced analyst teams & custom breifing calls
- XML datafeeds & custom charting tools
- Client-only seasonal outlooks
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Customers of PowerIQ:
- Optimize assets, manage trading positions & capitalize on price spreads using the hourly DAM & real time price forecasts
- Understand the volatility of the supply stack & analyze the possible outcomes for the day with risk scenarios
- Compare Genscape’s demand forecasts with the ISO to determine where deviations from the load may drive elevated prices
- Get customized service, as team of analysts are available to run tailored scenarios, diagnosis congestion risks & give insight to daily market volatility
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Genscape Weather & Power Demand Forecasting
Provides on-demand, up-to-date forecasts & a unique perspective on how weather conditions impact electricity demand
Genscape’s team of meteorologists enhances our PowerIQ Market Intelligence services by providing accurate load forecasts 15 days out and analyzing weather conditions that are driving demand for the major power markets in the contiguous United States.
The foundation of Genscape’s load forecasting process, the proprietary Neurobuilder model, is a sophisticated neural network that trains on each hour of the day using a +/- 45-day window of historical weather and load information. Neurobuilder is capable of capturing short-term shifts in load, such as those driven by snow cover, as well as industrial, commercial, and retail changes in usage, heat waves, and even Christmas lighting.
Genscape’s team of meteorologists is in charge of interpreting and maximizing the model forecasts by correcting model biases and applying changes based on historical load profiles from similar weather days. The information they provide to Genscape’s power market analysts is fundamental in the assessment and forecasting of prices in both the short (‘dailies’) and medium (‘weeklies’) terms.
On a daily basis, Genscape's Meteorology team:
- Analyzes weather information from diverse sources, including real-time observations, satellite data, weather radar, statistical model output, and global and high-res model solutions
- Assesses weather impacts on load for a given forecast day
- Uploads demand model forecasts and applies changes according to Genscape’s weather/load assumptions and ‘nearest weather’ technique
- Explains load forecasts and reasoning to power market analysts
- Provides directional (upside/ downside) risk assessment on load for each forecast day
- Delivers real-time updates to market analysts and answers customer questions as needed