Load Forecasting is an essential activity performed for budget forecasting and reporting. A trading organisation or a major energy user organisation needs to forecast energy consumption, track it against energy usage and report the budget against the actual.
There are different types of forecasts in the Utilidex Energy | Hub system. Forecasts are generally used to track usage against budget (run once a year). Forecasting is also run periodically (daily/weekly/monthly) that can then be use for trading and procurement to ensure there is no overspend and hedge ratios are in line with the end customers risk policy.
Forecasts are also used to estimate data when data is not present in the Utilidex Energy | Hub.
To capture the Load forecast, you can use the menu Load Forecasting -> Load Management -> Forecast Curves as shown below:
The Forecast Curves UI displays the various forecasts you have have created. Utilidex Energy | Hub allows you to create multiple load forecasts. The traders can create their own forecast curves to do their own analysis. However, only one of these forecast curves may be used to track and report budget against actual. The curve used for tracking and reporting budget against actual usage is to be marked as a System curve as shown below. Each curve has a start and end date.
If you click the hyper link for the ID for any of the forecast curves, you can view the details of the individual forecast curve:
The individual curve shows the energy forecast for each individual month as a bar graph at the top of the screen. To the right of the graph, all the system generated forecasts are shown in a tabular fashion for each month.
System Generated ForecastsThe system generates load forecasts based on Site settings under the Overview tab in the section called Forecasting Details:
The user can also specify adjustments to the forecast for specific periods as shown below:
The forecasted data can be uploaded or downloaded using the two links in the Quick Facts section in the top right corner of the screen.
When you click the upload data link, you get the following screen:
Please select the energy asset/product for which you are uploading the data and whether you are uploading all the data or that for an individual meter.
Choose a local file using the Choose File button and click upload. A sample data XLS is shown below:
We have a forecast engine which can roll HH data into the future to produce it for you and save you time and admin work. This compliments the existing forecasting algorithm, which allows users to generate a bespoke forecast based on their historical consumption.
Adhoc Forecast Engine
Go to: Tiles tab in the top left corner on your homepage in your Energy.Hub > Select the Billing Tile > Load Forecast > Load Management > Forecast List
Select: Add Forecast > Enter Company Name > Enter MPAN
Then you will need to Select download the template, populate the template with one years worth of data. Then Upload the template.
Select Next > Select Save
Then your Forecast data will be populated.