Telvent to provide Xoom Energy with weather, load forecasting
Xoom Energy buys natural gas and electricity in the wholesale markets to meet the demands of its customers in 10 states and the District of Columbia
Helsinki, August 6, 2012 — Xoom Energy selected Telvent to provide weather and load forecasting technology to help them make educated purchasing decisions based on projected energy usage.
Xoom Energy buys natural gas and electricity in the wholesale markets to meet the demands of its customers in 10 states and the District of Columbia. Telvent's market-leading weather forecasts help Xoom Energy predict consumer demand more accurately and thus provide more competitive pricing and unparalleled customer satisfaction.
Data such as temperature, dew point, and wind speed will be delivered to Xoom Energy hourly. Plus, the company also has 24-7 access to Telvent's weather experts for questions regarding load forecast models, observations, and forecasts delivered 15 days in advance.
Up to 90 percent of load forecasting errors can be attributed to inaccurate weather forecasting. By selecting Telvent — independently rated number one for forecast accuracy in the U.S. — Xoom Energy is choosing the same weather information provider as 70 percent of the country's major investor-owned utilities and co-ops, who use Telvent's forecasts to enhance their smart grid solutions.
Telvent will add additional weather stations and forecasting locations in the future as Xoom Energy expands its geographic footprint within the natural gas and electricity energy retail markets.