Cutting-Edge Wind Power Generation Tool Now Provides Energy Traders with Forecasts for California and the Pacific Northwest
ANDOVER, MA, August 4, 2010 - WSI (Weather Services International), the most trusted global weather solutions provider, today announced that its wind intelligence product for energy traders, WindCast IQ powered by Genscape, has added modules for CAISO (California Independent System Operator) and BPA (Bonneville Power Administration), one of the balancing authorities in the Pacific Northwest.
Wind, the fastest growing source of power generation in North America, is a significant driver of congestion and price volatility in many regions. WindCast IQ combines WSI’s best-in-class weather forecasting resources with Genscape’s state-of-the-art knowledge of regional power market fundamentals to deliver highly skilled wind generation forecasting with ISO-level coverage, previously unattainable levels of forecasting accuracy and farm-level granularity. The product is enhanced further through calibration with Genscape’s real-time power flow monitors, installed at key wind farms.
“Fluctuations in wind generation are becoming a major driving factor in price movements in the short-term wholesale power prices in the western US,” said Jason Russell a West Power Trader for Occidental Petroleum Corporation. “The WindCast IQ product has an accurate assessment of wind generation, which can provide insight into congestion caused by wind generation and the potential impact on price. This is valuable information which can be used daily in assessing the price outlook for power markets.”
The new WindCast IQ regional additions cover California and the Pacific Northwest (Columbia River Basin) regions in which wind power impacts power markets on a daily basis. Each WindCast IQ product gives clients highly accurate, 7-day, hourly forecasts of wind generation at the ISO, regional and wind farm level, updated throughout the day.
“As wind power becomes an ever-more important source of clean energy, accurate wind generation forecasting is a growing challenge for all market participants,” said Mark Miller, WSI’s Vice President and General Manager of Decision Support. “The combination of WSI’s highly skilled wind power forecasting teamed with Genscape’s expert understanding of the power grid, creates an ideal pairing of forces that gives energy traders and wind farm operators a true market edge.”
“WindCast IQ has proven to be a breakthrough product for the wind power marketplace,” said Hudson Gilmer, Genscape’s Vice President of Power and Market Intelligence. “The addition of CAISO and BPA regions provides energy traders and wind farm operators with access to WindCast IQ’s powerful, advanced capabilities that will help them to anticipate more precisely how wind will impact the market.”
For more information on WindCast IQ, visit http://www.wsi.com/energy/products/windcastiq/ or contact Robert Boucher at 978-983-6558 or firstname.lastname@example.org.
About WSI Corporation
WSI is the most trusted source of weather information across the globe. Top energy trading groups, utility companies, insurance professionals and financial institutions worldwide trust WSI to supply them with easy-to-use, timely and expert weather guidance to help anticipate market volatility, mitigate risk and make critical decisions with confidence. WSI is a member of The Weather Channel Companies and is headquartered in Andover, Massachusetts with offices in Birmingham, England. The Weather Channel Companies are owned by a consortium made up of NBC Universal and the private equity firms The Blackstone Group and Bain Capital.
Genscape is a leading global provider of energy information for commodity and financial markets. Utilizing patented technologies and proprietary algorithms, Genscape provides accurate and timely data on capacities, flow and utilization for all major energy commodities. Genscape also delivers fundamentals-based market intelligence services which market participants rely upon to better understand drivers, risks, and dynamics of regional power and gas markets.
Please visit www.genscape.com for more information.
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Linda Maynard Barbara Rudolph
WSI Corporation Rudolph Communications, LLC
(978) 983-6715 (781)229-1811