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Trading decision support system

OMNETRIC delivered a trading decision support system to determine whether to actively compensate current energy imbalances.
 

Trading decision support system

OMNETRIC delivered a trading decision support system to determine whether to actively compensate current energy imbalances.
 

The challenge

The customer needed a trading decision support system in order to answer the following question: In case of an energy imbalance of predicted vs. actual wind energy production, should one actively compensate this imbalance by trading on the intraday market right now or better pay the (at the time unknown) imbalance price weeks later?
 

Our approach

OMNETRIC conducted an extensive data analysis of the imbalance price as a function of various relevant input parameters: Control area imbalance, balancing energy reserve, forecast and real production and weather conditions.

Based on the results of the data analytics steps two first prototypes of prediction models of imbalance prices were implemented. The first model followed a bottom-up approach for direct price prediction, whereas the second model used a top-down approach to score the customers internal prediction model.

The result

The client gained a deeper understanding of the multi-dimensional parameters that influence the imbalance price. With this additional knowledge – and the first two prototypes – the customer can now better evaluate whether to actively compensate current energy imbalances. 

 

The client

Energie Burgenland Vertrieb
Energie Burgenland Vertrieb is a company of EnergieAllianz Austria and supplies its more than 133,000 electricity customers with clean, renewable energy - mainly locally produced wind energy.
 
 

 
 

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