Forecasting & Risk Control
Forecasting is the process of estimating consumption, production, purchase, sale, import and export of electricity or gas and exporting the results. The forecasting process involves setting up the system to enable forecasting, development of the forecast model, performing the forecast and handling the forecast results.
Forecasting can use several correction factors such as climate factors to adjust the calculated values used in the forecasting program.
The dashboard is a tree-based screen providing the users both an overview and a detailed view of the SLPs and Correction factors in the system. Also uploading of new SLPs and Correction Factors, and editing existing SLPs and Correction Factors is supported.
For certain calculations, the user may choose to import external reference data into the system. For example, the forecasting of certain EANs could be based on a formula referring to external data. Import of such a generic external data series can be performed through the Import Dataseries screen.
MECOMS® also has a report which will provide the MTM view of all deals in the system and highlight the deals where the price has fallen below a threshold. Since the mark-up price of a deal can have impact on the collaterals, this information can be useful for cash-flow predictions.
Custom calendars facilitate the specification of new periods. For example, it is easily possible to introduce the “Super Peak” period.
A framework is available for the creation of advanced formulae based on advanced functions such as addition and multiplication of data series. This makes the formulae highly customizable for fine tuning of forecasts.
MECOMS® Forecasting provides the possibility to visualize data in different resolutions e.g. hours, days etc. It is also possible to compare certain data series side-by-side. This allows for example comparison of realisation data with forecast data at a resolution up to a quarter.
MECOMS® offers (non-limitative list):
• Day ahead forecast (short term)
• Future forecast (mid term, long term)
• Program management
• Forecast formula control including correction factor, formula’s , …
• Program version control
• Order position, visiualisation of open positions, trade balance
• Visualisation of consumption
• Submitting schedules to TSO (nomination)
• Aggregation of consumption data
• Help for consumption forecasting (with EAV,SLP) definition of daily average temperature and application of calculation formula
• Import of trading information
• Deal management, transaction handling date, item, price, base, peak, off-peak, …
• Daily filter to view deals forecast and position overview
• Basic financial control
• Possibility to expand trading partners
• Information of total purchase and total sales
• Using program nodes to control and manage of cross-border deals and position
• Handling daily, next daily, weekly, yearly deals and tarde
• Credit limit and rating control
• Import and visualization of different stock exchange markets (day ahead and futures exchange)
• Reporting and overview
• Record deals (in-party,out-party, in country , out country, deal profile, price, day, ..)
• Deal confirmation
For more information contact us at info@mecoms.biz
Target Markets
Business processes