When GridBeyond’s Forecaster was run against the Australian Energy Market Operator (AEMO) forecasts for the first Quarter of 2025 it delivered predicted pricing that outperformed AEMO in terms of accuracy by 15 percent in Queensland, and up to 39 percent in NSW (16 percent – 18 percent on the peaks).
This is repeated across the NEM with an average of 17 percent more accurate forecasts than AEMO, and 13 percent more accurate in predicting price spikes. In a recent case study for Queensland, these improved forecasts translate into a 25 percent increase in value for commercial and industrial sites that use the forecasts to avoid high energy prices and an 8 percent increase in revenue for a grid-scale energy storage resource.
In an era of rising energy costs, increasing regulatory demands, and intensifying competition, forecasting tools are essential for businesses looking to optimising operations, control costs and meet sustainability goals.
As energy markets grow more complex, the ability to forecast and respond effectively becomes a defining factor in long-term competitiveness. For energy-intensive industries - from manufacturing and logistics to data centres and utilities, Forecaster is used to make accurate, real-time decisions about resource allocation and market participation, based on current and historical demand, supply, price, weather conditions, and a host of other constantly evolving variables.
GridBeyond’s Forecaster enables companies to reduce their overall energy costs by planning operations to avoid high-cost periods, helping manage price volatility and strategic scheduling during low-cost periods. It helps anticipating energy supply fluctuations, hedging against price spikes, and reducing reliance on last-minute purchasing managing risks. Forecaster it also aligns with energy consumption with production cycles and operational demand, allowing for smarter resource deployment and improved scheduling.
Forecaster is also part of GridBeyond’s award winning asset management and optimisation solution suite for grid-scale storage, solar, and other flexible energy resources. It provides insights for users that enable profitable and confident decisions for asset planning and operations seconds, days, and years into the future. Forecaster continuously adapts and auto-retrains for time-series forecasts using reinforcement learning.
It is the first of GridBeyond’s new suite of services available in Australia’s National Electricity Market (NEM). This suite includes: ‘Baseline’ - for monitoring and visualising site and organisation-wide energy consumption and associated emissions in real-time; ‘Designer’ - which leverages AI to optimise prospective energy investments for profitability and sustainability; and Managed Battery as a Service - for battery energy storage monetisation with real-time market optimisation.
“The Australian energy sector is going through many changes with renewables sector growing at a fast speed” said GridBeyond’s Managing Director Chris O’Brien. “There is a lot of interest around distributed energy resources and how these can be used. That goes from businesses renewables assets to rooftop solar, batteries and EVs, which can be managed via GridBeyond’s AI-powered platform to allow businesses and other energy stakeholders to protect themselves from energy price spikes, and also earn money from energy markets. Forecaster can help to optimise energy use and consumption maximising revenues and reducing carbon emissions.”
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