As you may be aware, PLEXOS Solutions LLC prepares a daily forecast of CAISO LMP and WECC Term energy prices for utilities, traders, and generators. Highlighted below are a few of the significant improvements that we have recently implemented and their results.
In keeping with our mission to provide our customers an all inclusive one stop shop for their term forecast, PLEXOS Solutions is now providing the River Forecast Center (RFC) Water Supply Forecast and the RFC ESP Water Supply Forecast on our WECCTerm site. Historically this data has been difficult to accumulate, by providing these forecasts we will allow our users to easily look at individual projects within the government snow-volume forecasts.
Figure 1: WECC Term site “Forward Bench” Report Mid June 2010, On-Peak, 60 days.
Note- red line is the market and the black line is PLEXOS Solutions forecast.
In our continued effort to provide customers with the best available data and term forecasts, we would like to highlight our success with the “Forward Bench” forecast reports on the WECCTerm website. These “Forward Bench” reports plot the last 60 days of the traded market with our forecast for a particular hub, forward contract, and time of day (Fig. 1). The energy prices have been expressed as market heat rates. These reports have received much acclaim. Customers use them daily to find fundamental opportunities that may exist in the forward market. For example in Fig 1, during the period of April and May PLEXOS Solutions consistently forecast that the market price for June was not supported by the fundamentals, was undervalued, and that a long position during this time period would have created value. Once the market corrected itself, our hydro models predicted an increase in flows due to the runoff starting, thus forecasting that the market prices were overvalued.
We have redesigned the WECCTerm and CAISO Imp sites to provide greater ease of use with features like compatible formats and the ability to have reports and forecasts emailed to users without logging in. Although currently available for WECCTerm only, it will become available to CAISO Imp in the near future.
Contact / More Information: For more information on the Information Services, please contact Ryan Hoppe at (509) 216-8601 / rhoppe@plexossolutions.com. For Demos and sales, please contact Sivan Oyserman at (916)722-1484 / soyserman@plexososolutions.com.
About PLEXOS for Power Systems: PLEXOS uses an industrial-strength LP/QP/MIP solver to deliver solutions to tough utility problems. PLEXOS is the platform at over 100 organizations globally for solving problems in operations, planning and risk, and market and transmission analyses (including LMP formation). For more information, visit www.plexossolutions.com. For more information on WECC Term or CAISO Imp visit www.weccterm.com and www.casiolmp.com
About PLEXOS Solutions LLC: The Company is focused on providing information services, consulting, and software solutions to utilities, gencos, consultants, and ISOs. The management and technical team understands this market and knows how to assist customers to deploy the next generation solution.