Wednesday, September 12, 2007

Market Forecasting and Modeling for the Power System of the Future

This paper addresses the utilization of predictive modeling and forecasting in the power supply industry. The issues herein were identified a couple of years ago, but the implementation is occurring at this time. The challenge of a forecasting system in power supply is the many "what if" scenarios that different models will need to consider. These "what if" scenarios need to take into consideration:
1. physical assets
2. contract prices
3. economic forecasting

A modeling of this size and complexity could require the utilization of a combination of most of the tools and methodologies in the current data mining and predictive modeling market, plus the development of some new tools.

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