Workshop teaches energy professionals to develop accurate forecasts for energy markets

SAN DIEGO, Calif., July 5, 2002 — A new workshop to be held in mid-August in Houston will teach energy professionals to develop accurate forecasts for energy markets.

Forecasts provide the foundations for both daily operations and market planning. In retail markets, accurate short-term forecasts can mean the difference of thousands of dollars each day.

Operations analysts need to forecast on an hourly or sub-hourly basis to ensure they have enough power to meet demand. Energy traders require this level of forecasting to determine how much energy to buy or sell, trying to avoid costly short-term purchases.

In the Fundamentals of Short-Term and Hourly Forecasting workshop, forecasting techniques and theory will be taught that can be applied to hourly and daily energy forecasting. The workshop will be held August 12-13 in Houston and is offered by Regional Economic Research Inc. (RER).

Each attendee is equipped with a computer and, through hands-on exercises, will develop energy demand forecasting models using regression, neural networks, and ARMA errors correction techniques. Attendees will take from this intermediate-level course a strong understanding of model building and when and how to use different modeling techniques to achieve the most accurate forecasts.

RER has long been recognized as a leader in energy forecasting, providing a wide range of expertise and software systems to the energy industry. For the past five years, RER has been conducting hands-on workshops focused on different energy forecasting applications and problems. Dr. Frank Monforte will lead the workshop. As Vice President of RER’s Forecasting Division, Dr. Monforte brings a wealth of academic strength and a range of real-world solutions to apply to various forecasting issues affecting recently’s energy forecasters.

To read a more detailed description of this workshop and others offered by RER, visit www.rer.com/nextworkshop.htm. The cost to attend is $1,100 and space is limited.

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