Load Forecasting is an essential activity performed for budget forecasting and reporting. A trading organisation or a major energy user organisation needs to forecast energy consumption, track it against energy usage and report the budget against the actual.
There are different types of forecasts in the Utilidex Energy Hub. Forecasts are generally used to track usage against budget (run once a year). Forecasting is also run periodically (daily/weekly/monthly) that can then be use for trading and procurement to ensure there is no overspend and hedge ratios are in line with the end customers risk policy.
Forecasts are also used to estimate data when data is not present in the Utilidex Energy Hub.
To capture the Load forecast navigate to Forecasting >> Forecast Curves.
The Forecast Curves UI displays the various forecasts you have have created. The Energy.Hub allows you to create multiple load forecasts. The traders can create their own forecast curves to do their own analysis. However, only one of these forecast curves may be used to track and report budget against actual. The curve used for tracking and reporting budget against actual usage is to be marked as a System curve as shown below. Each curve has a start and end date.
If you click the hyper link for the ID for any of the forecast curves, you can view the details of the individual forecast curve:
The individual curve shows the energy forecast for each individual month as a bar graph at the top of the screen. To the right of the graph, all the system generated forecasts are shown in a tabular fashion for each month.
System Generated Forecasts
The system generates load forecasts based on site settings under the site CRM, Services tab in the section called Forecasting details.
The user can also specify adjustments to the forecast for specific periods as shown below:
The forecasted data can be uploaded or downloaded using the two links in the Quick Facts section in the top right corner of the screen.
Please select the energy asset/product for which you are uploading the data and whether you are uploading all the data or that for an individual meter.