The Electricity Price Modelling and Forecasting Forum 2014, which was organised by the TBM Evolution Group and featured top figures within the Enel Group lining up with representatives of institutions and the European energy industry, took place in Berlin over 26-27 March.
The event offered the chance to get to know the latest modelling and forecasting issues being faced by Europe's leading power businesses and to improve both demand forecasting abilities and knowledge of short-, mid- and long-term forecast models. It also enabled discussion among electricity market professionals on what can influence market prices and the possible effects of government policy.
Representing the Enel Group at the event were Enel Green Power's Director of Energy Management for Iberia Javier Vaquerizo and Sergio Nogales Beccerra, Endesa's Head of Market Analysis.
Vaquerizo spoke about the purpose of wind power modelling and dealt with a wide range of technical issues such as forward market and spot market trading, obtaining data, the creation of a reliable IT infrastructure and performance evaluation.
'Further market integration and wind energy trading will be a huge trend in the medium to long term,' said Vaquerizo. 'Next generation forecasting products are needed for today and tomorrow's challenges.'
Nogales meanwhile offered a talk on what has changed in the Spanish power sector over the last ten years, speaking about development in the power generation mix, OTC market development, regulatory issues, and the effect these have all had on pricing, as well as offering an analysis of what we can expect in coming years.
'Price volatility has increased steadily due to the penetration of renewable energy and changes in regulations,' said Nogales. 'Weather forecasting is key to manage this volatility and its impact on results.'