Task 3.2 Value of Forecasts

Task 3.2: Assessment of the value and development of best practices for the use of probabilistic forecasts in the power system sector

An important feature of probabilistic forecast methodologies is the added value for the forecast user. The value for different stakeholders (TSO, DSO, balance responsible, traders, producers) will depend on the specific methodology, application and market design. 

We are therefore focusing on assessing the value of probabilistic forecasts and the options for added value by using such forecasts in different application setups. The value will be assessed by developing forecast games and simulations. Such a platform will give quantitative insights on the value created for different stakeholders and applications in day-ahead, intra-day, balancing markets as well as decision making in system operation. 

For more information or if you are interested in contributing to the above topics, please contact the task lead Dr. Corinna Möhrlen and Dr. Ricardo Bessa


Corinna Möhrlen
WEPROG, Weather and Energy Prognoses
18 AUGUST 2022