Itron to automate energy demand forecasting in Australia
Itron will implement an end-to-end solution to streamline AEMO's processes and provide half-hourly demand forecasts at intervals ranging from half-hour ahead to eight days ahead
Liberty Lake, Wash., March 30, 2011 —Australian Energy Market Operator Ltd. will implement an Itron solution to automate short-term load forecasting for the National Electricity Market in Australia — a market which includes New South Wales, Victoria, Queensland, South Australia and Tasmania.
Through this partnership, Itron will implement an end-to-end solution to streamline AEMO's processes and provide half-hourly demand forecasts at intervals ranging from half-hour ahead to eight days ahead.
With demand forecasts created at a sub-regional level, the project will enable improved forecasting of interconnection constraints, and in turn improve the forecasting accuracy of spot prices and reserves.
The solution will leverage Itron's MetrixIDR platform, which generates accurate sub-hourly, hourly or daily short-term forecasts automatically.
By combining historical load data with weather and calendar information, MetrixIDR provides system operators and energy traders with the real-time load forecasts required to operate successfully in today's dynamic real-time markets.