Telvent has been selected by the Australian Energy Market Operator Ltd. (AEMO) to implement weather forecasting technology in 16 Eastern and Southern Australian locations to support its new energy demand forecasting system.
AEMO is an amalgamation of energy services that responds to the changing needs of a diverse and growing population by involving multiple states, jurisdictions and communities to deliver an array of gas and electricity market, operational and planning functions. Telvent’s weather forecasting product will help AEMO’s system operations to manage the National Electricity Market (NEM) grid – the world’s largest interconnected power system – by assisting with the improvements of load forecasting decisions.
Accurate temperature forecasts are a critical tool for utilities and electric market operations, determining how much energy is needed to meet consumer demand. With this technology, accurate temperature forecasts will be reliably reported to AEMO, helping to maximize the value of its current services by enabling improved forecasting of demand and network constraints, and in turn improve the forecasting accuracy of spot prices and reserves.