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The Price Forecast White Box – How we ensure you have full control

The production planning and trading teams always have the most accurate understanding about local conditions, price forecasts, inflows, and unforeseen circumstances, which is why strategic decisions should always be in their hands. Our team at HYDROGRID also understands that the most effective decisions for your plants are made with most information available, so we took an extra step to share what we know with you.

What changed?

We have listened to our users’ requests for greater clarity on future market conditions anticipated by HYDROGRID Insight beyond the day-ahead. In other words, they wanted to know how we inform the production planning we recommend, as well as access to all this data in a single, simple and intuitive graphic. And we delivered.

We are excited to announce the introduction of our price forecast visualization, which is now available to all HYDROGRID Insight PLUS users. This feature allows you to view our predictions for the power market and how they influence our suggested production planning more than twelve months ahead. If we have integrated your price forecast, you will be able to access it in the Cockpit view.

With HYDROGRID Insight, your experts can input information that we may not have access to. Our HIRO (Heuristic Intelligent Robust Optimisation) algorithm integrates this information in real-time, resulting in less work for your team, the highest level of accuracy in prediction, and the optimal production planning outcome.

In summary, our price forecast visualization and HIRO algorithm provide greater clarity on future market conditions and enable optimal production planning. With HYDROGRID Insight, your team can input valuable information, and our algorithm will integrate it in real-time, resulting in the highest level of accuracy and the best possible outcome for your business.

Cockpit View of the Price Forecast Visualisation

Production planning, production actuals, price actuals and price forecasts – all in the same intuitive Cockpit graphic.

How to make the most of it?

To fully leverage our proprietary HIRO algorithm, we recommend using HYDROGRID Insight to quickly and intuitively edit your production plan. With HYDROGRID Insight, you can analyze data and make informed strategic decisions, enabling you to implement a new production plan using the same tool. This is the most effective way to ensure that any changes made today do not negatively impact profitability in the future.

Moreover, HYDROGRID Insight’s machine learning capabilities enable automated decision-making processes, improving accuracy over time. By continuously learning from past decisions and outcomes that you input, the software can make increasingly informed choices in the future, leading to improved profitability and reduced risks.

Want to know how you can steer your #smarthydro with Insight? Reach out to us and explore the optimization opportunities of your portfolio!

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