Melbourne, Australia and Liberty Lake, WA, U.S.A. — (METERING.COM) — April 4, 2011 – The Australian Energy Market Operator Ltd. (AEMO) is to implement Itron’s MetrixIDR platform to automate short-term load forecasting for the country’s National Electricity Market (NEM).
Itron will implement an end-to-end solution to streamline the AEMO’s processes and provide half-hourly demand forecasts at intervals ranging from half-hour ahead to eight days ahead. With demand forecasts created at a sub-regional level, the project will enable improved forecasting of interconnection constraints, and in turn improve the forecasting accuracy of spot prices and reserves.
The solution will leverage Itron’s MetrixIDR platform, which generates accurate sub-hourly, hourly or daily short-term forecasts automatically. By combining historical load data with weather and calendar information, MetrixIDR provides system operators and energy traders with the real-time load forecasts required to operate successfully in today’s dynamic real-time markets.
“For system operators around the world, access to accurate forecast data is critical to ensure efficient system reliability,” commented Frank Monforte, director of forecasting for Itron. “We are proud to share this experience with AEMO and look forward to a successful partnership.”
Australia’s NEM includes New South Wales, Victoria, Queensland, South Australia and Tasmania.