On Friday 10 June at 10.50h, Alex Halsema, Teamlead Market Analysis at PZEM will present and host a Q&A session on ‘continuous inflow of data, short term fundamental price forecasting and unit commitment’.
In his presentation Alex will cover:
- Increasing price impact of renewable generation
- The challenge of asset optimization in a world with volatile prices
- The importance of an accurate and up-to-date hourly price forecast
- The need to quickly process remit messages, fuel price changes and weather updates
- How price forecast support unit commitment decisions
- Feedback loop between unit commitment decisions and price forecasts
PZEM generates electricity, trades energy on the wholesale markets, provides balancing services in power and gas markets, and provides customer solutions to producers and business end users. We are located in Middelburg, the capital of the province of Zeeland in the Netherlands. Our portfolio is composed of nuclear, gas-fired, renewable generation capacity and PPA’s with producers of different sources of renewable energy. Furthermore we supply energy and energy related products and services to large and medium size customers.
As a responsible producer, trader, and supplier of electricity, PZEM contributes the transition to a sustainable economy. The importance of analytical competences and advanced quantitative methods has significantly increased during the last years due to the increasing complexity of markets, assets and products. At the same time the use of bigdata, machine learning and artificial intelligence have become increasingly important within the Analytics landscape to do forecasting, optimize assets and price complicated products.
With access to fast cycle gas storage capacity PZEM provides short-term flexibility solutions to gas portfolios. Besides, with our highly efficient CCGT power plant, we play a crucial role in providing the necessary flexibility on the power side to manage volatile production from renewable energy sources. This flexibility is becoming more and more important due to the increased share of non-dispatchable generation such as solar and wind energy. PZEM is able to optimize its portfolio in a way that we contribute to balance the electricity grid and help TSO’s out.