Orennia delivers industry-leading power price forecasts
CALGARY, Alberta, Aug. 16, 2023 (GLOBE NEWSWIRE) — Orennia Inc. has launched the most advanced approach to power price forecasts across the United States, combining its big-data processing technology with the industry’s leading power market experts. The forecasts include energy prices at both the zonal and nodal levels, as well as prices for capacity, ancillary services and renewable energy credits.
Adding to the company’s cutting-edge platform capabilities, the forecasts give a holistic view of the US market to screen and evaluate power project opportunities quickly and efficiently.
“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,” says Orennia Chief Product Officer Anthony Damiano. “No other solution on the market brings together historical data, advanced analytics and accurate forecasts in a single-pane-of-glass solution to support strategic investment decisions at speed.”
To achieve net zero, capital across the energy transition needs to be deployed quickly and deliver high returns. Growing complexity has driven a critical need to understand nodal basis risk, with ancillary, capacity and renewable energy credit forecasting becoming increasingly important.
“As the space becomes more competitive, industry leaders need accurate and consumable forecasts to allocate capital efficiently,” says Orennia Managing Director Wade Schauer. “Orennia’s forecast models were calibrated with a backtest leveraging our predictive analytics and over 15 billion data points.”
Orennia’s power price forecasts give project developers and finance teams access to information to locate, screen, benchmark and evaluate the potential profitability of power projects. This latest generation of forecasts was built to address today’s dynamic energy transition markets, providing scale, accuracy and speed.
Founded in 2021, Orennia is the leading all-in-one platform for accurate data, predictive analytics and actionable insights across the energy transition. Orennia’s platform is relied upon by the most sophisticated investors and developers to make more efficient capital-allocation decisions and maximize returns in the solar, wind, storage, power, RNG, CCUS, clean fuels and hydrogen sectors. The technology that powers Orennia’s platform delivers an unparalleled experience, distilling information into actionable insights to give clients a competitive edge. For more information, visit orennia.com.