Energy Forecasting, new from the business analytics leader, helps
utilities operate more efficiently by capitalizing on new interval data
from smart meters. Unlike other load forecasting software, SAS Energy
Forecasting supports multiple planning horizons - from the next hour to
the next 50 years.
Faced with volatile wholesale energy markets and increasingly complex
asset portfolios, utilities need robust load forecasting to improve
planning and operations while ensuring that lights come on when
customers flip the switch. Without analytics, the increasing volume and
variety of data can easily overwhelm traditional forecasting systems and
"We saved utility customers millions of dollars in our first year using
SAS," said David Hamilton, Manager of Load Forecasting for Old
Dominion Electric Cooperative, which
provides wholesale power to 11 not-for-profit distribution cooperatives.
"With SAS, we can capitalize on massive volumes of new data and quickly
adjust to changing conditions. We needed to understand how our customers
are likely to buy energy in the future. We couldn't answer that question
for the organization if we didn't have SAS."
Utilities can use big data from smart meters, power plants and other
sources to produce accurate and timely forecasts of short- and long-term
load and demand. This helps the utilities better trade energy on the
open market, while optimally managing power plants, generators and other
assets. To learn more, read the free white paper When
One Sze Doesn't Fit All: Electric Load Forecasting with a Geographic
Generating a return on smart grid investments
Investor-owned utilities are charged with delivering safe and reliable
power that meets customer expectations while delivering shareholder
value. The ability to predict the volume, variability and location of
energy demand brings significant financial rewards.
"SAS recognized the opportunity for utilities to use big data to make a
marked improvement in forecasting effectiveness," said Alyssa Farrell,
SAS Global Marketing Manager for Energy and Utilities. "Working with our
customers, we developed SAS Energy Forecasting to go beyond what any
forecaster has had access to before. We include utility-specific
forecasting models and a comprehensive forecasting toolset for further
refinement or custom configuration. Data mining and other analytical
methods produce forecasts that more accurately reflect business
realities and better guide decision makers ranging from load forecasters
to senior executives."
Utilities harness big data
"Forecasting technologies can help utilities optimize processes across
the value chain, from energy trading to demand-side management," said
Stuart Ravens, Principal Analyst at Ovum Energy and Sustainability. "SAS
Energy Forecasting positions this company at the forefront of the
development of analytics products specifically for the utilities
Utilities have successfully used forecasting in the past. Today's new
challenges, including the added complexity of wind- and solar-power
generation, require even greater attention to the data sets and models
that feed those forecasts.
"We needed a forecasting solution that was more flexible and responsive
to deal with variations in demand caused by a number of factors,
including the general economic downturn, changes in market conditions
and the unpredictable weather we've seen," said Andrew Mortimer,
Forecasting Optimization Manager at RWE npower, a leading integrated UK
energy company. "Since adopting the SAS solution, we've seen a
significant reduction in the error rate for commodity forecasting,
driving considerable cost savings. We can now interrogate large data
sets in a more efficient and effective way than previously, so I'd
expect to see these cost savings sustained over the coming years."
Energy and utility leaders around the world rely on the power of SAS to
deliver the analysis, forecasts, and energy trading and risk management
systems for effective decision making across the enterprise. With SAS
Analytics, utilities track and manage resources by geography, weather
sensitivity and customer load characteristics. No other forecasting
solution provides the automation, scalability, statistical
sophistication and transparency of SAS Energy Forecasting.
Today's announcement came at The
Premier Business Leadership Series event in Amsterdam, a business
conference presented by SAS that brings together more than 700 attendees
from the public and private sectors to share ideas on critical business
SAS is the leader in business
analytics software and services, and the largest independent vendor
in the business intelligence market. Through innovative solutions, SAS
helps customers at more than 65,000 sites improve performance and
deliver value by making better decisions faster. Since 1976 SAS has been
giving customers around the world THE POWER TO KNOW®.
SAS and all other SAS Institute Inc. product or service names are
registered trademarks or trademarks of SAS Institute Inc. in the USA and
other countries. ® indicates USA registration. Other brand and product
names are trademarks of their respective companies. Copyright © 2013 SAS
Institute Inc. All rights reserved.
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