“Offering the industry’s first capability to generate price-optimized demand forecasts is a game changer,” said Michael Parrella, CEO of ESCOWare
Boston, MA (PRWEB) June 02, 2015
Genscape and ESCOWare today announced the availability of a new Price-Optimized Scheduling module within ESCOWare’s Demand Forecasting System (DFS). This module is the first of its kind in the industry, generating a Day-Ahead Schedule that is based on ESCO’s DFS load forecast and Genscape’s PowerBuyer® price forecast.
Genscape PowerBuyer is the industry’s leading proprietary data and power market analytics tool for retailers, utilities, and industrials. The platform provides powerful, fundamental daily reports that summarize the key market drivers, hourly prices, and optimal buying strategies, to help minimize cost and risk.
Through this new partnership, clients who subscribe to both ESCOWare and Genscape PowerBuyer will be able to leverage the full benefits of both in one module. Using Genscape’s hourly price forecasts and risk-adjusted market calls to produce a Day-Ahead schedule, the module helps users minimize supply costs while also avoiding exposure to hours with significant RT risk. Users can also configure their level of RT exposure and view performance history. Coverage includes PJM, ERCOT, New York ISO, and ISO-New England, with plans to expand to other markets.
“Offering the industry’s first capability to generate price-optimized demand forecasts is a game changer,” said Michael Parrella, CEO of ESCOWare. “In addition to reducing supply costs, we see tremendous opportunities for leveraging this data to help retailers accurately value and schedule bundled price-responsive devices such as smart thermostats, battery storage, and generation.”
“With compressing margins in the industry, I need to integrate the most accurate demand and price forecast in my scheduling decisions to minimize supply costs,” says Vincent Palmieri, COO of East Coast Power and Gas. “The Price-Optimized Scheduler module makes this easy by automatically integrating Genscape data into my existing ESCOWare scheduling process.”
“This is a simple case of listening to our clients,” said Hudson Gilmer, VP of Commercial Markets for Genscape. “Many of our clients who use ESCOWare requested this integration to simplify their daily workflow and leverage the powerful analytics of the ESCO platform.”
To learn more about the new Price-Optimizing Scheduling module, click here: http://info.genscape.com/powerbuyer-press
Genscape is the leading global provider of real-time data and intelligence for commodity and energy markets, driven to improve market transparency and efficiency. With thousands of patented monitors strategically deployed worldwide, Genscape is unique in its ability to collect and report proprietary market fundamentals in real-time or near real-time. Genscape delivers innovative solutions across a number of asset classes including: Oil, Power, Natural Gas and LNG, Agriculture, Petrochemical and NGLs, Maritime, and Renewables. Genscape clients often gain important insights, improve risk management, or increase operational efficiency. For more information, please visit: http://www.genscape.com
About ESCOAdvisors, LLC
ESCOWare®, based in Danbury, Connecticut, is a division of ESCO Advisors™, a leader in retail energy supply managed software solutions and consulting services. ESCOWare offers several cloud-based software solutions tailored specifically for the Retail Energy Provider industry. More information is available here: http://www.escoware.com
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