Forecaster
Predict your future demand
Improving energy demand forecasting performance is a key factor in achieving efficient and profitable energy operations in a liberalised market. Poor forecasting performance can lead o high imbalance charges and operating costs.
What Noble Offshore can offer
- Improved forecast accuracy using multiple proven methodologies to:
- Reduce imbalance penalties
- Improve your network and storage efficiency
- Maintain safety and security of supply
- Ensure sufficient future capacity
- Comprehensive set of forecasting models built on over 10 years experience
- Automation of key tasks
- Reduce operational manpower requirements and spend more time improving forecast accuracy
- Support from forecasting experts
- Our experts will suggest improvements in the forecasting process, modelling methods used and how to avoid common pitfalls to allow you to make the most of forecasting and improve accuracy
- Implementations to suit individual client needs
Some of our clients achieve annual savings of over £1M per annum with relatively small improvements in forecasting accuracy. The savings will depend on existing forecasting capability and this is something Noble Offshore can help you quantify and improve.
Key Drivers behind improved forecasting
- Reduce imbalance penalties imposed by the regulator/transporter
- Maintain security of supply
- Manage gas storage efficiently
- Book sufficient capacity in the future
- Operate a gas network efficiently and safely
- Optimise CAPEX by pinpointing capacity constraints
- Make informed buying/selling decisions in times of price volatility