New and Highly Predictive German Spot Price Forecast Launched by ICIS - Beckley, Bluefield & Lewisburg News, Weather, Sports

New and Highly Predictive German Spot Price Forecast Launched by ICIS

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE ICIS

LONDON, May 7, 2014 /PRNewswire/ --

Established energy market intelligence provider, ICIS, has launched the German Spot Price Forecast, a highly predictive new price forecasting tool for traders and analysts operating in the German day-ahead energy market.

Leveraging the success of the predictive capabilities of the carbon market analytics developed by Tschach Solutions, the ICIS German day-ahead Spot Price Forecast uses a combination of sophisticated learning algorithms backed by the expertise of analytics experts. The resulting predictive analysis has proved to be particularly strong, including during volatile renewable generation periods. 

The German day-ahead market is the most liquid in Europe, making reliable forecasts key if opportunities are to be maximised. The potential to make the most money occurs when the markets are most volatile - for example, during difficult-to-predict consumption peaks or adverse weather conditions. This unique new solution is different from the traditional stack model commonly used in market forecasts as it has the ability to learn from past outcomes as well as taking into account a host of current market fundamentals.

Sebastian Stütz, Lead Analyst Power at Tschach Solutions, now part of ICIS, commented: "We are filling a gap in the market with a robust new price forecasting product that is based on neural network machine learning algorithms. The German Spot Forecast is dedicated to build confidence in German day-ahead trading. Its predictive value particularly extends to market situations of price spikes, negative prices, weekends and public holidays."

Each forecast is based on a variety of inputs including high resolution weather data, latest capacity availabilities, power demand forecasts, wind and solar power production forecasts, fuel prices etc. The information is incorporated into ICIS neural networks which learn by identifying the patterns and key factors in the data. State-of-the-art algorithms continuously incorporate new data into the models and, uniquely, go on learning over time, thus becoming more and more accurate.

Subscribers will benefit from a forecast that takes into account input volatilities and predicts a price that is more in line with actual market activity. The German Spot Forecast tool also has usability features built in, including showing forecasts for the next days, the option to select confidence levels, access to older forecast runs, and the ability to easily compare forecasts with the actual price movements that occurred. 

http://www.icis.com/german-spot-price  

About ICIS  

ICIS is the world's largest petrochemical market information provider and has fast-growing energy and fertilizer divisions. Our aim is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience in providing pricing information, news, analysis and consulting to buyers, sellers and analysts.

With a global staff of more than 800, ICIS has employees based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth. ICIS is a division of Reed Business Information, part of Reed Elsevier Plc.

Reed Business Information

At Reed Business Information we provide information and online data services to business professionals worldwide. Customers have access to our high-value industry data, analytics, information and tools. Our strong global brands hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of Reed Elsevier, a leading global provider of data, information and solutions for professional customers. 

Jacqueline Savory
Senior Marketing Manager
Email: jacqueline.savory@icis.com
Direct: +44-208-652-4490
Mobile: +44-78256-80550

©2012 PR Newswire. All Rights Reserved.