Austin, Texas, November 21, 2002 — PointServe has launched its Very-Short-Term Forecast (VSTF) solution at PJM Interconnection. VSTF enhances the accuracy of electricity demand forecasts. It predicts electricity load from one minute to four hours ahead of demand.
“PointServe demonstrated an ability to provide better forecast solutions than those produced in previous academic and commercial study,” said Mike Bryson, PJM’s manager of Operations Development. “PJM’s relationship with PointServe supports our goal of consistently strengthening our technological capabilities to serve our members.”
“Accurate forecasts are a key component to supporting and maintaining transmission-system reliability and energy-market stability,” notes Ed Powell, CEO, PointServe. PointServe’s solution, built with modules from its Enterprise Service Optimization (ESOà¢â€ž-) suite, strengthens the accuracy of the short-term energy load forecasts across the PJM system. “This solution allows greater certainty in dispatching generating units, which lowers operating and capital costs for power generators,” adds Powell.
PJM administers the world’s largest competitive wholesale electricity market and operates the electric transmission grid in all or part of seven states and the District of Columbia. Its market includes more than 200 participants.
PJM aggregates data to create critical information that it provides to energy market participants in real time via the Internet. The ability to model market drivers to predict electric demand is critical for reducing the impact of fluctuating demand on energy pricing. PJM is experienced in applying sophisticated technology to its complex operations and selected PointServe for exhibiting a similar standard of expertise and experience.
“PointServe is excited to have been selected for this important initiative in applying advanced real-time Enterprise Service Optimization technology to power grid operations,” says Powell.
“Our real-time demand forecasting solutions are a great match for this hyper-dynamic environment,” adds Powell.
PJM is widely recognized in the electricity industry as an outstanding power grid operator.
“Components systems like those we’re developing with PJM are setting the standards in this rapidly changing industry,” notes Powell.
PointServe is a provider of service supply chain management solutions that enable companies to optimize the economic performance of their entire service supply chain.
PointServe’s Enterprise Service Optimization (ESO) solution combines planning, optimization, and execution modules into a single, integrated suite that synchronizes real-time decision-making between service supply chain management functions. ESO solutions deliver substantial gains in operational efficiency to the enterprise.
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