United StatesEnergy and utilities2022 – ongoingAES
Farseer generation forecasting and AMART market automation
AES linked renewable-generation forecasts to market submissions and reported a $5.5 million contribution in 2023
Problem
Weather uncertainty complicated renewable-power sales. AES also handled time-sensitive market processes manually, creating opportunities for errors.
Approach
AES data scientists worked with Google on Farseer and AMART, starting in July 2022. Farseer used weather and generation history to predict output. AMART automated operational steps supporting market submissions.
Results
Takeaway
The forecasts fed traders and dispatchers responsible for energy submissions. AES did not disclose a calculation method for the financial contribution.
Categories
- Size
- Large enterprise
- Industry
- Energy and utilities
- Business function
- Production and qualityMarketing and sales
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Partner co-development
- Evidence
- Company's own claim
Sources
Source summaries
CIO interviewed AES about its forecasting and market-automation program. It reported the July 2022 start and AES's claimed $5.5 million contribution in 2023.
Full details are in the original sources.