BOSTON, Feb. 5, 2002 — Each morning, EnvaPower automatically emails customers an updated 30-day forecast of the zonal electricity demand in the Central Maine Power (CMP) Regional Network Service (RNS) zone, and lists the top peak demand hours for their billing cycle.
This information is useful for large electricity users, because they are charged a transmission tariff each month based on the amount of electricity they use during the peak hour of demand for their entire zone. These fees, known as an ‘Open Access Transmission Tariff’ (OATT), add up to thousands of dollars per month for some large CMP customers.
“With our CMP RNS 30-Day Rolling Forecast, companies know ahead of time when the demand in their zone will hit a ‘coincident peak’ subject to an OATT charge. Then, they can then take measures to reduce their exposure,” says Ramin Abrishamian, CEO of EnvaPower.
EnvaPower, a new energy market forecasting company based in New England, developed this forecast using its propriety artificial intelligence software called A4I Technology.
“This neural network -based technology is always self- learning the current and previous days and months activities to provide customers with the most accurate forecast available,” says Joseph P. Conroy, EnvaPower CTO. “We forecast the top hourly peaks for the month on a rolling basis, so as the month progresses a customer is certain to shed load at the right time for maximum savings. Through our four month testing period, this forecast was more than 97% accurate in forecasting the hourly electricity load demand.” finished Conroy.
The CMP RNS 30-Day Rolling Forecast is available as a stand alone product or with packaged services. “With our package approach, customers are able to choose the right product and services to meet their individual needs,” says Abrishamian. “Every large user is different, and brings a different skill level to managing their energy use, we want to make sure that they have the tools available to get the maximum benefit from our forecast.”
“This, our first zonal electricity demand forecast, is one of many more to come,” says Abrishamian, “it is our goal to have a demand forecast for all of the larger electricity zones in the New England Power Pool (NEPOOL) as well as the New York and PJM power grids.”
EnvaPower, Inc. is a privately held company headquartered in Boston Massachusetts, with the most accurate forecasts of price and demand available to the electricity market. Products and services are available online through a password-protected portal. The electricity market suite-of-products is called PowerManagerâ„- and includes: PowerForecasterâ„-, MarketMonitorâ„- and PowerConnectâ„-.