HelioSwitch offers an innovative cloud-based service to support optimal dispatching of demand and generation flexibility via energy markets probabilistic modeling and weather forecast uncertainty propagation. Power forecasting plays a critical role in the operation and planning of power systems. They guide Balancing Responsible Parties (BRPs) and Balancing Service Providers (BSPs) decision making in commitment and dispatch. An imperfect forecast causes an extra cost known as imbalance cost. Unique differentiators of HelioSwitch are the approach capable to consistently combine model and input uncertainties into probabilistic energy forecast estimates, then turning uncertainty into a valuable asset to reduce imbalance cost. Furthermore, with HelioSwitch’s Bayesian approach the forecasts are updated to include “on-the-fly” updated meteorological forecast and “real-time” smart meter readings.
