Digital forecasting provider DNV GL has launched an on-demand web portal with e-commerce enabled transactions.
Named Forecaster NOW, the site is part of DNV GL's subscription-based, short-term forecasting services, which include Forecaster Live, Forecaster Plus, and Forecaster Solutions.
DNV GL's Americas forecasting head Craig Collier said: “Power grids and markets will continue their rapid transformation to a low carbon system.
“Accurately knowing when and how much generation will come from variable sources such as wind and solar with increased flexibility is crucial for operators, utilities, and independant system operators (ISO) in maintaining reliability, enabling increased penetration, and achieving a low-cost system.”
DNV GL’s Forecaster NOW provides users with on-demand forecasts of select power markets. The site is designed to offer immediate estimates of future wind and solar plant energy generation to the traders, plant operators, and other stakeholders.
The immediate forecasts enable energy traders to validate trading instincts, in addition to informing operations and maintenance (O&M) managers, helping them to maintain scheduling and provide a critical second opinion energy forecast.
Forecaster NOW also offers insight into potential impacts of wind and solar production on energy supply and pricing. It provides traders with information to help validate timely trading decisions in the Electric Reliability Council of Texas (ERCOT) market.
DNV GL's Americas energy advisory president Carole Barbeau said: “Having been developed, used, tested, and validated by a broad range of users, as well as continuously improved for over a decade, DNV GL’s forecasting solutions are now being offered to provide the right level of insight through four distinct levels of subscription.
“While some stakeholders may require a more in-depth forecast, others may have a need for only a snapshot of the forecast and Forecaster NOW provides this on-demand flexibility.”
The new forecaster will be initially available in the US and Canada, with further releases in European countries and other nations worldwide in the future.