Today's volatile electricity market puts added pressure on energy
forecasters. Both underestimating and overestimating electricity demand
can significantly affect a utility's bottom line. As deregulated markets
opened up in the US, Clearview Electric experienced rapid growth in
residential customer base and revenue. With its expansion across 10
states, Excel®-based forecasting collapsed under the strain
of big data. The company selected SAS®
Energy Forecasting to predict demand and costs. It helps the utility
buy the right amount of electricity and price it competitively.
"Forecasting was a time-consuming, manual process that involved
downloading large amounts of data from various sites and applying
industry trends," said Derek Campbell, Clearview Electric CFO. "But
trends generalize one usage volume for every residential customer, and
actual energy usage varies from home to home. Forecast inaccuracy
exposed us to significant financial risk during energy procurement.
We've seen the results of such financial risk force other companies to
exit the market. We began our search for analytics that are powerful
enough to manage large volumes of omplex data."
Improved load forecasting reduces uncertainties and generates value
"We chose SAS Energy Forecasting to help us predict our load more
accurately. Now we procure just the right volume of wholesale
electricity," Campbell continues. "SAS integrates and analyzes
individual customer-consumption data, weather data and other data
sources. We know we're getting highly accurate forecasts because SAS
compares our specific energy use to our historical forecasts. That's
invaluable information because it drives our cash flow and, ultimately,
how we run our business."
"Better, faster forecasts power all levels of decision making including
CFOs, risk managers, wholesale procurement, marketing, sales and
business development teams," said Alyssa Farrell, Energy Product
Marketing Manager at SAS. "Good forecasts result in more confident
decision making throughout the enterprise. Using SAS, companies like
Clearview have become more agile, operating more efficiently and
effectively in very fluid energy markets."
SAS Energy Forecasting improves overall process performance through the
inclusion of data management, forecasting and reporting. It handles
multiple planning horizons - from days to years - to help suppliers,
utilities and co-ops operate more efficiently without hiring additional
planning or forecasting staff.
To learn about opportunities for harnessing smart grid data to get the
most out of energy forecasting, read the free white paper, How
Does Forecasting Enhance Smart Grid Benefits?
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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