LNRG Technology has initiated a collaboration with the European energy forecasting leader AleaSoft in deploying the unique AI-powered SMP (System Marginal Price) electricity price forecasting model for the Israeli electricity market. AleaSoft provides energy forecasting solutions for a variety of purposes within multiple markets, including electricity demand and price forecasting for the short, mid and long-term scenarios. The AleaSoft forecasting service can be provided as a customized application for the short-term forecasting or as a periodical forecast report for all ranges.
The short-term scenario forecasting by AleaSoft is an hourly or half-an-hour granularity forecast with a horizon of up to 10 days. This is most relevant for real-time forecasting applications such as energy storage integration. The short-term forecasting service can be provided as a customized application or as a daily forecast report.
The mid-term scenario forecasting by AleaSoft is an hourly or half-an-hour granularity forecast with a horizon of up to 3 years. This is most relevant for elecricity projects. The mid-term forecasting service can be provided as a monthly forecast report.
The long-term scenario forecasting by AleaSoft is an hourly or half-an-hour granularity forecast with a horizon of up to 30 years. This is most relevant for project feasibility evaluations. This long-range forecasting service can be provided as a quarterly forecast report.
Interested in getting more information on SMP forecasting solutions? Please contact us.
