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26.02.2024

What are the advantages of digital energy price forecasts?

Digital energy price forecasts for energy buyers

Digital energy price forecasts have become an integral part of today's energy purchasing. However, not all decision-makers and purchasers are aware of the new possibilities for purchasing electricity and gas. Many are not yet aware of the possibilities offered by the new digital analyses and data connections and are still laboriously researching their economic forecasts for energy costs in Excel spreadsheets. In this article, we therefore address the question: What are the advantages of digital energy price forecasts?

Definition of energy price forecast

Before we mention the advantages, we would like to briefly explain what we mean by a "digital energy price forecast", referring to our specific offer, as price forecasts can differ from one another.

The enPORTAL connect energy price forecast uses the current exchange prices and relates them to the individual consumption profile of your company. This makes it possible to see what costs you would have to expect in the future if you were to procure your energy now. The price surcharges of the energy suppliers are taken into account by means of an AI.

As a special feature, there is also a purchase-specific energy price forecast.

This function of enPORTAL connect also uses an AI-based calculation method and informs you by e-mail if a target price corridor you have set is exceeded or undershot. In this way, you can start your energy procurement before a development on the stock exchange would result in enormous additional costs for your company - or to benefit from a cost saving when stock exchange prices fall. You will never again miss a purchasing moment.

The energy price forecast shows the values for all years traded on the exchange.

 

These are the advantages of digital energy price forecasts

1. energy costs at a glance at all times

With our AI-based energy price forecast, you can see every day what a same-day tender would mean for energy costs. This makes your business planning easier and ensures that you can see what electricity or gas costs you can expect even before a tender. Our forecast combines three values, completely customised to your consumption points: 1) Individual energy data 2) Closing market prices from the previous day 3) Standard market mark-up from the energy suppliers on the underlying consumption profile.

 

2. best time to buy

Based on the current costs available at any time, you can make a better decision in favour of or against starting a tender because you can see how much more or less costs this means. Example: You can see that a current purchase would reduce electricity or gas costs by around 100,000 euros. If this value is acceptable to you, you put it out to tender and fix these energy prices for your company. Or you realise that a current purchase would mean additional costs of around 50,000 euros and you would like the costs to remain the same for the following year... in this case, you may want to wait and observe the stock market developments. The aim of an energy price forecast is to make your purchasing decision easier, because you can see every day anew what a current procurement or tender would cost you. Everything is based on actual closing prices on the exchange and with AI-backed mark-ups from the energy suppliers.

 

3. economic planning per click

With a digital energy price forecast, you can create and download business plans at any time with a click. This is particularly helpful for regular reporting or for monitoring purposes. You and your managers or superiors can quickly see how high the energy costs may be. This saves many hours of manual analysis and provides you and your company with a great deal of security and control.

 

Conclusion: Advantageous for energy purchasing

These three advantages show how helpful a digital energy price forecast can be. This requires digital platforms such as enPORTAL connect, which intelligently link all your energy data with current stock market prices, risk premiums and public values such as taxes, levies or grid charges so that you ultimately have a full overview of your future energy costs.

If you have any questions or require further information, please do not hesitate to contact us!

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presse@enportal.de

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