CASE STUDY: Electricity Demand Forecasting

Mathematical Modelling and Forecasting
Client: British Energy

Role: Egerton Consulting was brought in to identify opportunities for developing new methods to improve the forecasting of the electricity demand profiles of the client’s commercial and industrial customers.

Result: A number of improvements to forecasting methods were identified. In addition we proposed and successfully developed, by applying the method of Dynamic Programming, a method of minimising trading costs that are incurred as forecasts are improved and adjusted as the trading day approaches.

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