Technology provider Origami has launched a machine learning software product to help enhance trading options for energy companies.
Origami Forecast will be able to provide energy companies with automated, live forecasts for power generation, demand and market prices, but using real-time data and machine learning software.
This will allow energy traders, analysts and data scientists to run accurate forecasts at scale, handling vast amounts of data. The software’s suite of monitoring and analysis tools will allow them to quickly make adjustments and stay on top of changes, said Origami.
"As we enter the green energy future and markets become more volatile, energy companies face big challenges to maximise the value to be extracted from a growing number of opportunities," said Peter Bance, chief executive for Origami.
"Being able to focus on what really matters at the right time is critical. Our Origami Forecast product is set to inspire confident, informed decision making in uncertain times."
The software is the first product from a new suite of interoperable modules called Renewables+, which will all be aimed at optimising energy trading. As the energy sector transitions to net zero ahead of the UK’s 2050 target, the ability to make informed trading decisions that improve margins and reduce cost and risk will be increasingly important as the energy mix becomes more complex and uncertain.
In September 2019, Origami Energy announced it had signed partnerships with DNOs Scottish and Southern Electricity Networks and SP Energy Networks for three separate trials on flexibility and peer-to-peer trading.
Current± caught up with David Middleton, head of commercial delivery at Origami Energy at the time, to discuss the importance of peer-to-peer trading in the energy sector.