Extended Forecast Horizon for Central and South Eastern Europe

May 5, 2020Dr. Anamaria Toebe

Wattsight has increased the coverage of its medium-term power forecast by adding nine new price zones in Central and South Eastern Europe: Czech Republic, Slovakia, Hungary Romania, Bulgaria, Greece, Croatia, Slovenia and Serbia.

A Comprehensive Fundamental Forecast

Our medium-term forecast covers all traded power-products ranging from time horizons of two weeks up to four years ahead. We base our forecasts on market intelligence and a fundamental model simulating detailed generator dispatch on a hourly level. This enables us to forecast the price formation and power flow between interlinked power markets. The continental model was developed with the integrated energy simulation environment PLEXOS®.

Forecasting CEE and SEE countries

In addition to Central Western Europe, Iberia and UK, we cover now most countries in CEE and SEE. The most important generation resources in these new areas are lignite, coal, nuclear, gas and hydro. The thermal and nuclear generation categories are represented on a unit level in the fundamental model comprising of around 200 plants with a total installed capacity of over 60 GW.

Consistent Fundamental Model Along the Entire Curve

The generation of the weather-dependent fundamentals wind, solar and hydro are calculated with our Weather-To-Fundamental models - also used for the Short-term Power Forecast - and are therefore exogenous input variables to the model. All prices and fundamentals forecasts are available in hourly resolution in our API time-series database.

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