Genscape's ERCOT PowerBuyer and PowerIQ analysts work hard Monday through Friday to get energy managers the data they need that will impact their bottom line. Starting next month, Genscape’s ERCOT services will expand coverage to include weekends. This optional weekend module will deliver the same rigorous fundamental reports for Saturday, Sunday and many holidays. It also offers Genscape’s industry-leading demand forecast on a 7-day rolling basis.
Enhancements to ERCOT PowerBuyer include expanded performance reporting which will better address the needs of clients who are selling power, such as wind farm operators or merchant generators. Power sellers can use the hourly risk-adjusted market sell signals to increase revenues and capture real-time exposure during periods of highest upside risk. Driven by customer demand, PowerBuyer will be introduced for PJM in Q2, with other regions to follow.
Recently, we shared one great example of how a large paper mill in Maine was able to use these services to transform their energy costs from a burden to a source of competitive advantage.
Here’s how they did it:
- Using Genscape's hourly price forecast data, the mill was able to optimize its generator schedule to quickly draw from the grid when prices fell below their generation costs.
- Similarly, they could ramp up the generator prior to a predicted price spike and then sell their surplus capacity to the grid for a significant return.
- With monthly forecast data, they were able to plan ahead for reduced load during forecasted peaks, lowering their overall demand charges.
Read the article: Genscape Announces Expansion of PowerBuyer® and PowerIQ Services in ERCOT