Major Price and Fundamental Forecasts Upgrade Released

ECMWF upgrade
Product
Oct. 1, 2018Joakim R. Blakstad, PhD

We have expanded our monthly forecasts for power prices and fundamental data from 32 days to 46 days due to a recent model update from our main weather provider ECMWF. A key plank of the upgrade is enhanced dynamic coupling between the ocean, sea ice and the atmosphere.

Quality Checked By Wattsight

ECMWF's upgrade has already been introduced on June 5, 2018, but needed thorough internal testing and assessment from our side before we extended our forecast horizon. We concluded that the update improved the overall forecast quality, especially the prolonged forecast period, most notably at weeks three till six. 

Already Made Available

We have applied the extended monthly forecasts in our application under Power > InstantSpot > Price 46 Days Ahead and in our new data API for ECMWF forcasts for prices and fundamentals (e.g. consumption, wind, residual load). 

Learn More

For more information about the upgrade, you might want to get in touch with our meteorologist Joakim R. Blakstad, Ph.D. or read about ECMWF's upgrade on their blog

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