Download Price Insight Product Brief

In order to best take advantage of their market position, participants trading in the NEM need to have a good understanding of future short-term fluctuations in wholesale electricity prices up to a week ahead. While the Australian Energy Market Operator (AEMO) provide a variety of forecasts to aid NEM participants in their trading, they do not publish half-hourly pool price forecasts beyond 40 hours ahead. ROAM's Price Insight provides half-hourly price and dispatch forecasts for the seven-day STPASA forecast horizon and therefore provides a critical input for NEM participants.

Price Insight is built upon ROAM's proprietary market forecasting engine, 2-4-C®, which has been developed to replicate the behaviour of AEMO’s NEMDE model as closely as possible. Figure A shows a high-level diagram of the components of Price Insight.

Figure A: Data flow diagram for Price Insight

The critical input data for Price Insight are:

  • AEMO's seven-day ahead STPASA demand forecasts,
  • Transmission network constraints,
  • Forecast generator bids based on historical bid records,
  • A generator availability projection, and
  • Wind generation forecasts for each wind farm in the NEM using ROAM's wind power forecasting system, Wind Insight™, which uses locational wind speed and direction forecasts from the Australian Bureau of Meteorology.

Please contact us for more information on any of the above services