Short-Term Load Forecasting
Our short-term load forecasts (STLFs) are used for:
• Day-ahead bidding into energy markets,
• Dispatching load management, interruptible, and peak time rebate programs, and
• Discharging/recharging energy storage devices.
Our service provides you with easy online access to a constantly updating hourly STLF. The Clearspring STLF algorithm refreshes hourly using the latest historic loads and weather forecasts in your service territory. The algorithm determines the best forecast for each upcoming hour by employing hundreds of highly parameterized multivariate regression models combined with piecewise linearization techniques. To deliver the best forecasts with low mean absolute percent errors (MAPEs) we customize all these models to your specific system.
Access to our STLF services can be provided as an automated tool for your internal staff to use for energy market or dispatching decisions or you can use our staff as your load management/energy storage dispatching team.
Contact us for a no-risk, FREE TRIAL of our online STLF service!
G&T Example: A generation and transmission electric utility uses Clearspring’s STLF service to submit day-ahead energy market bids, determine when to enact load management programs to reduce system use during possible energy market peaks, and to optimize its overall energy market activities.
Distribution Utility Example: A relatively small electric distribution utility hired Clearspring to continually monitor system loads and determine when to discharge and recharge its fleet of batteries to optimize the economic value of the assets. Our team also determines upcoming system peak events for the utility’s peak time rebate (PTR) and irrigation load management programs.