End User
CPO
Description
This AI-powered service evaluates the performance of energy forecasts by comparing predicted and actual energy outputs of offshore assets. It supports energy analysts and system operators in identifying forecasting errors and improving future models. The service provides critical KPIs like MAE, RMSE, and deviation trends over time.
Core Capabilities
Predictive & Prescriptive Analytics
Optimization & Decision Support
Business Need
Energy forecasting is essential for planning and market operations. This service addresses the need to evaluate and improve forecast accuracy, reducing penalties from imbalance markets and enhancing grid integration of offshore renewable sources.
Key Performance Indicators
Mean Absolute Error (MAE)
Root Mean Square Error (RMSE)
Forecast Bias (%)
Accuracy improvement over time
Data Provided
Forecasted energy production data (from internal or third-party sources)
Historical power generation and weather/wave data
Open-source weather forecasts
TEF
TEF RES