Energy Modelling Expertise
300 Ann Street
Brisbane QLD 4000
Phone +61 7 3077 9630
GPO Box 77
Brisbane QLD 4001
|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Australian Energy Market Operator (AEMO) provide a variety of forecasts to aid NEM participants in their trading, they do not publish half-hourly pool price forecasts beyond 40 hours ahead.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