BoFiT Forecast – Flexible in Use for Various Tasks
Developing new business models with ProCom software
Aachen, Germany, 18 June 2019 – Stadtwerke Saarbrücken GmbH is a good example of how smart software can be used flexibly in the energy sector: As a long-time user of the two ProCom solutions BoFiT Optimization (operational planning) and BoFiT Forecast, the portfolio management team of Stadtwerke is well versed in using software and created a new business model with ProCom's software: Stadtwerke Saarbrücken offers small and medium-sized distribution network operators forecasting for the differential time series. A forecast model in BoFiT is used to more accurately predict deviations from the standard load profile. This makes it easier to offset the balance group, which in turn lowers the management costs thanks to the reduction in balancing energy.
"Typically, our customised solutions for differential energy forecasting save 1-2 euros per standard load profile metering point annually", Martin Germann, Head of Portfolio Management at Stadtwerke Saarbrücken reports. He also added that the service is risk-free for customers. "We only charge a service fee if we achieve demonstrable savings based on an agreed quota."
The service is made possible by the broad range of mathematical models for different tasks offered by BoFiT Forecast. In addition to the typical profile methods (standard load profiles, day parameter dependent load profiles and user-defined profiles), regression models, artificial neural networks (KNN) and methods of the SARIMAX family are available. These options provide Stadtwerke Saarbrücken with the essential tools needed. Using the customers' historical network data, the individual forecasting algorithm is analyzed and structured in BoFiT. Together with site-specific weather data, this constitutes the main building block to create the differential energy forecast.
"Digitalisation leads to more transparency in the energy sector and provides data that can yield true added value when the right tools are used. Smart solutions, such as BoFiT Optimization and BoFiT Forecast, take the usability of this data to the next level", says Germann. In the case of differential energy forecasting, there are even multiple benefits: it reduces the costs for balancing energy both for the municipal utility company and for the customers of the service. In addition to revenues, Stadtwerke Saarbrücken is gaining additional know-how along the way, which will be useful for the development of new digital business models.
Also read our interview with Martin Germann, which can be downloaded from our Media Database.
About ProCom GmbH
ProCom provides customized and highly innovative software solutions for the energy industry and the automation technology for more than 40 years. The energy business unit offers consulting on all matters relating to the core value creation chains of energy companies, thus covering the entire spectrum from generation and storage through trading to distribution. With their excellent knowledge of business processes, data flows and IT as well as individual consulting, ProCom experts provide support for the implementation of strategic objectives through to operations.
Energy portfolios covering all timelines and markets are managed in an optimum manner using IT solutions, forecasts and market information services. The software can be flexibly integrated into almost any IT structure. More than 150 customers throughout the energy industry's value creation chain benefit from ProCom solutions, which make energy portfolios and processes more efficient and transparent. IT solutions from ProCom can be your means to leveraging value by processing of data flows and turning them into understandable information. This identifies and reveals potentials. Even in extremely complex situations, you keep an overview, remain flexible and have the capacity to act. At its headquarter in Aachen and locations in Cologne, Berlin, as well as Ningbo, China, the family business has more than 120 employees from twelve countries and pursues a clear strategy of growth and internationalization.
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