APTransco developing four forecast models
Vijayawada: APTransco chairman-cum-managing director B. Sreedhar has said it is working on developing four day-ahead forecast models for wind energy, solar energy, market forecast, dispatch model and frequency forecast.
Launching the online capacity building programme for senior officers under the aegis of the Energy Resources Institute here on Monday, the CMD said the APTransco had developed a nervy forecasting model to forecast the power demand with minimal error to meet the grid demand.
He said this model helped it procure power for the market at cost-effective rates.
The CMD said APTransco intended to create four additional day-ahead prediction models for wind, solar market forest cast and frequency forecast.
To reduce the cost of purchasing power, it is developing a least-cost electricity dispatch model which would specify how much electricity should be distributed for every 15 minutes the following day from each generation station --thermal, solar, wind and gas plants.
He said that with the change of the electricity utility sector from a long-term convention PPA period into a short term renewable dominant market economy, energy price forecasting has gained significance globally.
The power generators and Discoms use price forecasting data to create the appropriate bidding strategies, he said and added that a generator could create a bidding strategy to increase its profit. It had an accurate forecast of the prices. In case a reliable price estimate was available for the following day, a Discom could create a Strega to reduce its own electricity costs, he added.