Our energy demand forecaster is a winner in the “KI-Champions Baden-Württemberg 2024” competition by the Baden-Württemberg Ministry of Economic Affairs, Germany
SOLUTION OVERVIEW
Addressing challenges in energy procurement and trading
Key problems
Cost
Increased transactions on spot and intraday markets due to inaccurate predictions of energy demand result in high operational expenses.
Legal Framework
To ensure compliance, e.g in Germany with the Energy Industry Act, energy providers need to guarantee an uninterrupted and reliable energy supply.
Inflexible Approaches
Relying on load curves and outdated models fail to project fluctuations in energy demand.
Changing Demand Dynamics
New demand patterns due to electric vehicles, photovoltaics, and HVAC systems require more adaptive forecasting solutions.
Solution
We deliver energy demand forecasts and integrate trading recommendations based on savings projections
Our forecaster uses current demand, weather, and event data to predict the energy demand from 15 minutes to 2 weeks in advance in 15-minute intervals.
… and deliver reliability for each forecast.
The key advantage of our solution is that it provides not only demand forecasts but also a confidence value for each prediction as a reliability measure. This allows users to identify inconsistencies in the input data and detect root causes for (potential) operational inefficiencies.
SELECTED KPIs
Generating measurable value
Less than 4% Error of Energy Demand Forecasts
Our solution delivers forecasts with less than 4% deviation between predicted and actual energy demand.
1.1 Mio. € / Month Savings per 100.000 households
Our solution minimizes the transactions on the intraday and spot markets resulting in a significant cost reduction.
Up to 60% less manual load with semi-automated trading
Our solution enables traders to efficiently respond to fluctuations in the energy demand and execute recommendations per single click.
INTERACTIVE DASHBOARD
Delivering actionable insights for energy suppliers and traders
Benefit from energy demand forecasts and semi-automated trading to enhance operational efficiency and minimize the intraday and spot market transactions. Our solution integrates near real-time data and predictive analytics, delivering actionable insights through an intuitive dashboard to enhance decision-making and trading strategies.
CORE FEATURES
End-to-end solution to meet your business needs
Demand Forecasts
Energy demand forecasts from 15 min. to a week in advance at 15-minute windows for proactive energy procurement.
Confidence Intervals
A measure of reliability for forecasts which can be used, for example, to identify anomalies in the input data.
Cost Savings Projections
Estimation of potential savings through forecast-based simulation to support operational decision-making.
Semi-automated trading
Actionable recommendations based on forecasted demand and savings can be executed by traders with a single click.
Reporting & Dashboarding
Standardized reports and interactive dashboards facilitate clear communication and accessible insights.
Data Historization
Archived demand and procurement data for trend analysis, model retraining and compliance adherence.
Technical characteristics
Interpretable Model
Self-learning System
TLS Encryption
Integration with risk management system
On Premise / in Cloud Deployment
Standardised REST interfaces
BENEFITS
A complete solution with pre-built functionalities
Eliminate the need for lengthy custom development cycles. Our turnkey solution delivers immediate results to drive your business forward.
Benefit from a complete, fully functional system from day one. Our turnkey solution covers everything from data integration and processing to delivering actionable insights.
Reduce integration time and costs for data and AI solutions. Our turnkey solution can be fully integrated with your existing systems within one month.
Our solution ensures reliability through pre-built and -tested functionalities, reducing the risks of delays and budget overruns associated with custom development.
Benefit from our expertise. We offer comprehensive onboarding, training materials, and ongoing technical support to help you leverage the full capabilities of our turnkey solution.
Future-proof your investment. Our turnkey solution scales with your needs and guarantees functional and security updates.
ONBOARDING PROCESS
From 0 through proof of value to continuation
Start now.
Request your free individual benchmark.
