Calgary-based Orennia has introduced a groundbreaking power price forecasting platform for the U.S. energy market, blending its big-data processing technology with insights from top power market experts. The forecasts encompass energy prices at both zonal and nodal levels, as well as prices for capacity, ancillary services, and renewable energy credits.
Designed to help companies efficiently assess power project opportunities, the platform offers a comprehensive view of the U.S. energy market.
“Orennia has hit a milestone today, delivering critical power price forecasts that account for an aggressive buildout of renewable power projects and historic market behavior,” said Anthony Damiano, Orennia’s Chief Product Officer.
With the increasing complexity of the energy transition, understanding nodal basis risk, along with forecasting for ancillary services and renewable credits, is becoming essential. Wade Schauer, Managing Director of Orennia, emphasized the importance of accurate forecasts in a competitive market.
Orennia’s platform is designed to meet the needs of project developers and finance teams, offering scale, accuracy, and speed in evaluating the profitability of power projects.