EnvaPower Introduces a Dynamic New Forecast for New England's Energy Market

New Day-Ahead Energy Clearing Price Forecast Is Ninety-Three Percent Accurate.



May 08, 2002, 01:00 ET from EnvaPower

    BOSTON, May 8 /PRNewswire/ -- EnvaPower, an energy forecasting and market
 intelligence company, introduces a new Energy Clearing Price (ECP) forecast
 for the New England power market with their New England Day-Ahead On-Peak ECP
 Forecast.
     This Forecast achieves an accuracy of better than 93 percent on average
 and predicts market direction with a 90 percent certainty, or 9 out of 10
 days.  "We believe the level of accuracy we achieve with this price forecast
 is far better than anything the market has seen," says Ramin Abrishamian, CEO
 of EnvaPower, Inc.
     The Day-Ahead Price Forecast is produced with proprietary software
 technology called A4I Technology.  This technology uses EnvaPower's forecast
 of New England's hourly demand (with accuracy levels averaging 97.5%) as well
 as numerous private and public energy market indicators to accurately forecast
 the day-ahead on-peak ECP.  "Each day our technology takes thousands of real-
 time and historical data points and dynamically weighs each point to determine
 those indicators that will drive the price of electricity in the next day's
 market," said Joseph P. Conroy, EnvaPower's CTO.  "Using our proprietary
 technology we are able to continually improve and upgrade our software to
 produce extremely accurate demand and price forecasts."
     The Day-Ahead Price Forecast is available each morning in time for that
 day's market trading decisions.  In addition to the forecast, EnvaPower
 provides customers with a Market Volatility Index (MVI).  MVI is the projected
 volatility in the next day's energy prices, and other factors driving the
 market.  The ECP Daily forecasts include professional commentary, seven days
 of weather statistics, and the forecasted peak demand.  "Having this forecast
 delivered every morning with an analysis of the factors affecting next day
 prices, gives energy market participants a complete snapshot of the day-ahead
 New England energy market," said Rick Zimbone, EnvaPower's Director of
 Business Development.  "With EnvaPower's technology, market participants have
 an advantage over their competition.  EnvaPower's tools can minimize the risk
 associated with meeting supply requirements, selling excess power, managing
 price spikes and controlling purchases and sales."
     EnvaPower's New England Day-Ahead On-Peak ECP Price Forecast is delivered
 by email, fax, or online through EnvaPower's proprietary web-based monitoring
 application.
     Customers who purchase this forecasting product will also have access to
 EnvaPower's Dynamic Price Forecast Simulator (DPFS).  "Our simulator lets a
 customer analyze numerous scenarios based on changes made in various market
 influencers to determine their impact on the next day's forecasted price."
 said Zimbone.  "For example, by using the simulator, a customer can judge the
 effect the loss of a generating unit would have on the forecasted day-ahead
 ECP.  This simulation can be applied with many other variables including,
 transmission interchange capacity, fuel prices, changes in maintenance
 schedules, load forecasting errors, changes in weather and so on."
     EnvaPower, Inc, headquartered in Boston, Massachusetts, specializes in
 providing short term electricity forecasting services and market intelligence
 for the energy industry.  In addition to price forecasts, we provide regional,
 zonal and customized load forecasting.  Products and services are available
 24/7 online through EnvaPower's proprietary web-based monitoring application.
 The electricity market suite-of-products is called PowerManagerT and includes:
     PowerForecasterT, MarketMonitorT and PowerConnectT.
 
     For More Information
      Rick Zimbone                            Tedann Olsen
      Director of Business Development        Marketing Communications Mgr.
      rickz@envapower.com                     tedanno@envapower.com
      (617) 254-5300                          (617) 254-5300
      fax (617) 254-5032                      fax (617)254-5032
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X83515842
 
 

SOURCE EnvaPower
    BOSTON, May 8 /PRNewswire/ -- EnvaPower, an energy forecasting and market
 intelligence company, introduces a new Energy Clearing Price (ECP) forecast
 for the New England power market with their New England Day-Ahead On-Peak ECP
 Forecast.
     This Forecast achieves an accuracy of better than 93 percent on average
 and predicts market direction with a 90 percent certainty, or 9 out of 10
 days.  "We believe the level of accuracy we achieve with this price forecast
 is far better than anything the market has seen," says Ramin Abrishamian, CEO
 of EnvaPower, Inc.
     The Day-Ahead Price Forecast is produced with proprietary software
 technology called A4I Technology.  This technology uses EnvaPower's forecast
 of New England's hourly demand (with accuracy levels averaging 97.5%) as well
 as numerous private and public energy market indicators to accurately forecast
 the day-ahead on-peak ECP.  "Each day our technology takes thousands of real-
 time and historical data points and dynamically weighs each point to determine
 those indicators that will drive the price of electricity in the next day's
 market," said Joseph P. Conroy, EnvaPower's CTO.  "Using our proprietary
 technology we are able to continually improve and upgrade our software to
 produce extremely accurate demand and price forecasts."
     The Day-Ahead Price Forecast is available each morning in time for that
 day's market trading decisions.  In addition to the forecast, EnvaPower
 provides customers with a Market Volatility Index (MVI).  MVI is the projected
 volatility in the next day's energy prices, and other factors driving the
 market.  The ECP Daily forecasts include professional commentary, seven days
 of weather statistics, and the forecasted peak demand.  "Having this forecast
 delivered every morning with an analysis of the factors affecting next day
 prices, gives energy market participants a complete snapshot of the day-ahead
 New England energy market," said Rick Zimbone, EnvaPower's Director of
 Business Development.  "With EnvaPower's technology, market participants have
 an advantage over their competition.  EnvaPower's tools can minimize the risk
 associated with meeting supply requirements, selling excess power, managing
 price spikes and controlling purchases and sales."
     EnvaPower's New England Day-Ahead On-Peak ECP Price Forecast is delivered
 by email, fax, or online through EnvaPower's proprietary web-based monitoring
 application.
     Customers who purchase this forecasting product will also have access to
 EnvaPower's Dynamic Price Forecast Simulator (DPFS).  "Our simulator lets a
 customer analyze numerous scenarios based on changes made in various market
 influencers to determine their impact on the next day's forecasted price."
 said Zimbone.  "For example, by using the simulator, a customer can judge the
 effect the loss of a generating unit would have on the forecasted day-ahead
 ECP.  This simulation can be applied with many other variables including,
 transmission interchange capacity, fuel prices, changes in maintenance
 schedules, load forecasting errors, changes in weather and so on."
     EnvaPower, Inc, headquartered in Boston, Massachusetts, specializes in
 providing short term electricity forecasting services and market intelligence
 for the energy industry.  In addition to price forecasts, we provide regional,
 zonal and customized load forecasting.  Products and services are available
 24/7 online through EnvaPower's proprietary web-based monitoring application.
 The electricity market suite-of-products is called PowerManagerT and includes:
     PowerForecasterT, MarketMonitorT and PowerConnectT.
 
     For More Information
      Rick Zimbone                            Tedann Olsen
      Director of Business Development        Marketing Communications Mgr.
      rickz@envapower.com                     tedanno@envapower.com
      (617) 254-5300                          (617) 254-5300
      fax (617) 254-5032                      fax (617)254-5032
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X83515842
 
 SOURCE  EnvaPower