Investing for the future
In the initial stages of deciding where to site a new power plant, SMHI can provide 40 years of weather history that allows developers to make an informed investment decision once this historical weather data is translated into simulated power production.
Then, once that windmill starts spinning or water runs through the turbine in a run-of-river power plant, Montel AI’s production forecasts provide automated updates that are reported straight into the day-ahead electricity market. From start-up through to operation, forecasting products from the Montel Group and SMHI can help optimise power plant operations with models for:
· Wind power production (MWh)
· Run-of-river production (MWh)
· Inflow to reservoirs (m3/s)
· Spot price predictions (EUR/MWh)
In 2017, Montel launched a new service – Energy Quantified by Montel (EQ). Providing fundamental forecasts for power professionals, EQ uses SMHI data to offer spot market forecasts up to 45 days ahead. Hydrology data feeding into market predictions also come courtesy of SMHI.
With weather playing such an important part across so many aspects of power markets, the cooperation between the two businesses has been vital to creating the wide range of services accessible via the Montel Group.