A new complex model from StormGeo's Nena Analysis simultaneously calculates the flow, power balance and price to find valid and stable solutions for the continental power markets
OSLO, Norway, Jan. 13, 2020 /PRNewswire/ -- StormGeo's [https://c212.net/c/link/?t=0&l=en&o=2690384-1&h=2927185338&u=https%3A%2F%2Fwww.stormgeo.com%2Fsolutions%2Frenewables%2Fpower-market-insight%2Fthe-flow-based-model&a=StormGeo%27s] Nena Analysis, a leading provider in price prognoses and market analysis for major utilities and trading entities, today announced a new spot and short-term analysis model. The new model, believed to be the first of its kind, is in line with the Central Western Europe (CWE) flow-based market coupling regime.
The improved hourly spot and short-term analysis for the next day, current week and next three weeks for Germany, France, Austria, Belgium and the Netherlands solves the supply and demand, flows, and price formation in all countries simultaneously in order to find a valid and stable solution.
The new model is consistent with the shift away from the old system in Central Western Europe as a way to minimize cost by increasing cross border flows and better utilize generation capacity. This is an improved way of setting the flows between all five countries, ultimately impacting price formation.
"We have developed a new powerful model that integrates the flow-based regime, enabling us to make consistent forecasts for the five CWE countries several times a day and on an hourly basis," said Bengt P. Longva, Senior Analyst at StormGeo.
Arve Dahl Nielsen, VP of Energy Markets at StormGeo, added, "Our insight into the intricacy of the power systems plays a significant role in our product development and is one of the reasons why we were able to solve the complexity of the new flow-based system."
The new spot and short-term analysis is now available in StormGeo's Nena Analysis portal. Seven additional countries will be added to the system in 2020, with the Nordics joining in 2021.
StormGeo is a global provider of weather intelligence and decision support services, with leading solutions for shipping, oil and gas, renewable energy, utilities and aviation. Nena Analysis, acquired by StormGeo in 2016, is a leader in delivering analysis and price forecasts to Nordic and European power markets, renewable markets, gas & LNG, coal and dry freight markets. The Nena Analysis client base includes energy utilities, funds, banks, shipping companies, private investors and governments. For more information, visit www.nena.no [https://c212.net/c/link/?t=0&l=en&o=2690384-1&h=3629841014&u=http%3A%2F%2Fwww.nena.no%2F&a=www.nena.no] or www.stormgeo.com [https://c212.net/c/link/?t=0&l=en&o=2690384-1&h=3690933349&u=http%3A%2F%2Fwww.stormgeo.com%2F&a=www.stormgeo.com].
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CONTACT: Arve Dahl Nielsen, +47 918 11 065, firstname.lastname@example.org
Web site: http://www.stormgeo.com/