Time Series Forecasting Now Available in Yes Energy Products
by Yes Energy on Feb 02, 2023
Through our new solution provider partner Enertel AI, Yes Energy® is pleased to offer forecasting services for any data series in North American power markets. These include prices, load, and generation forecasts anywhere they're measured in Yes Energy products. At Yes Energy, we help you cut through the noise with purpose-built tools designed for power market participants who face a mountain of data every day.
About Enertel AI
Enertel AI was founded by advanced data analytics and power trading specialists, to bolster the ability of power market participants to use artificial intelligence (AI) in their day-to-day decision making. Enertel’s belief is that recent advances in AI can reduce manual work for traders while also improving the accuracy of their decisions.
Successful applications of AI in power markets require three inputs: high-quality data, purpose-built algorithms, and robust optimization. Yes Energy supplies a strong foundation of high-quality data by handling data collection, standardization, and all the other costly aspects of data engineering. Enertel constantly researches and implements the most cutting-edge algorithms and optimization techniques.
With all three critical inputs in place, operationalizing and maintaining AI at scale demands a delicate balance of accuracy and reliability. Model accuracy must be constantly upgraded while reliable forecasts are produced every day without fail. Establishing this balance requires sophisticated infrastructure, feature engineering, model training and tuning, model review and governance, model inference and serving, model deployment and monitoring, and automated model retraining. Enertel handles all of this complexity so traders can focus their attention on making timely decisions. With Enertel AI and Yes Energy behind you, you can spend your time acting on data, not aggregating it.
Enertel AI Forecasts
Enertel offers both a “managed model”, as well as a “build-your-own" approach to forecasting. Via the managed model approach, Enertel delivers daily load, price, and generation forecasts for major hubs, zones, and systems from their best, pre-architected, constantly tuned models. A sample of popular managed model forecasts are available for free to all Yes Energy users for accuracy and reliability evaluations.
Via the build-your-own approach, users of the Enertel platform have the option to select specific forecast targets and predictive data features from Yes Energy’s deep data catalog to create custom models. The Enertel platform still handles all the complexity of training, testing, and deploying custom models, but the model results are exclusive to the user that created them.
Regardless of the forecast approach, Enertel is obsessed with accuracy and aims to provide as much transparency as possible when it comes to how their forecasts perform against actuals and ISO forecasts. Forecast accuracy will vary by target, but Enertel’s load forecasts generally attain or beat a 4% MAPE and their day ahead price forecasts generally attain or beat a $10 MAE.
Integration with Yes Energy Products
To support the entire end-to-end decision-making process, Enertel’s forecasts can be delivered directly to users through Yes Energy products, including PowerSignals, QuickSignals, and DataSignals. With the tight integration between Enertel’s forecasts and Yes Energy’s analytics, visualization, and data delivery tools, there is no need for traders to add an additional application to their morning routine.
Enertel’s day ahead LMP forecast for ERCOT North Hub visualized in the Time Series Analysis module within PowerSignals alongside actual data from the ISO.
All Yes Energy customers have access to a day-delayed version of some of Enertel’s most popular forecasts for free, and with no additional activation required, to back-test forecast accuracy before subscribing. Full access to Enertel’s latest forecasts and historical vintages requires a separate, paid subscription, but free, limited time trial access is available.
Get Started Today
Existing Yes Energy customers search for “Enertel” in Yes Energy data series selectors to begin your evaluation of forecast accuracy and reliability. Additional details on the Enertel integration are available to Yes Energy product users in the Yes Energy Help System.
To request a personalized demo and free trial, contact David Murray at Enertel AI.
When you’re making multi-million dollar decisions in complex power markets, you need a trusted advisor to help you make sense of the billions of data points and rapidly changing market conditions. Yes Energy provides the most comprehensive nodal power market data available, delivered with exceptional power market data expertise. Learn how we can help you Win the Day Ahead™ with Better Direction.