Boston, MA, October 07, 2010 --(PR.com
)-- Genscape, the leading source of energy market data and intelligence, announces the availability of its first service specifically designed for the term market. PowerIQ West Term provides WECC market participants with a rigorous fundamental analysis of all market drivers including demand, generation, hydro, transmission/congestion, and imports.
· Demand - Genscape’s Neurobuilder™ demand forecasting system and team of meteorologists generate the industry’s most accurate demand forecast on a daily basis through Next Month for each of the 32 balancing authorities in the US WECC.
· Generation – The West Term supply stack utilizes a Security Constrained Unit Commitment (SCUC) model informed not by economics but by a rigorous analysis of the historical bidding behavior of each unit.
· Hydro – Clients of the PowerIQ West Term service receive Genscape’s Hydro analysis includes generation forecasts for the 19 major dams in the Columbia River basin. Forecasts are made using inputs such as the NWRFC and Genscape’s proprietary Snow Water Equivalency (SWE) model.
· Imports/Exports - Forecasts of intertie flows for BC, CAISO, and all balancing authorities import/export points based on a fundamental analysis of generation, demand and transmission availability.
· Transmission/Congestion – The PowerIQ West Term model encompasses the entire US WECC transmission system, and utilizes an Optimal Power Flow (OPF) model, factoring forward transmission maintenance schedules, to generate flows and calculate congestion driven price separation between WECC hubs.
"To serve the unique needs of WECC term traders, we needed to develop a new model platform that was fast enough to run multiple demand, gas and hydro scenarios for every day in the Bal Month and Next Month without sacrificing accuracy," said Dr. Kaiyan Jin – Genscape’s Director of Market Intelligence Development. "Based on exhaustive backcasting and positive initial customer feedback, we’re confident we’ve accurately modeled the diverse drivers of the West Term market and can give traders a powerful tool for fundamental analysis of market risks and opportunities."
“Genscape’s PowerIQ for West Term is a valuable tool for market fundamentals,” said Gary Donabauer, a 20 year veteran West Term trader with Chelan PUD. “Their analysts know the Mid-C and WECC. They’ve built a model that accurately captures the fundamental market drivers and presents them in an easily, understandable format.”
Genscape is a leading global provider of energy information for commodity and financial markets. Utilizing patented technologies and proprietary algorithms, Genscape provides accurate and timely data on capacities, flow and utilization for all major energy commodities. Genscape also delivers fundamentals-based market intelligence services which market participants rely upon to better understand drivers, risks, and dynamics of regional power and gas markets.
For more information, visit www.genscape.com or contact Karen Sonne at 1-866-292-8060.