Ireland-based smart energy management outfit Gridbeyond has released what it says is a new and improved version of electricity price forecasting tool, which it claims is “consistently” more accurate at the task than the Australian Energy Market Operator (AEMO).
The “Forecaster” tool is part of Gridbeyond’s asset management and optimisation suite of products which helps companies save money by predicting high-cost electricity periods and managing price volatility.
Electricity price volatility, including bouts of high and negative prices, is an increasingly common feature of Australia’s National Electricity Market (NEM) as it straddles the fossil fuel past and renewable future – and races to add more energy storage and firming capacity.
Gridbeyond’s solution includes an AI-based product dubbed “designer” that allows developers to optimise resources for maximum profitability and sustainability, alongside another tool for big batteries that developers can use in real-time to boost revenue.
In the first quarter of 2025, Gridbeyond said its specialist software outperformed forecasts produced by AEMO by 17 per cent on average across the entire NEM. On a state by state basis, the margins went as high as 39 per cent in New South Wales and as low as 15 per cent in Queensland.
“Our forecasting platform gives energy stakeholders the clarity they need to act with confidence—whether they’re bidding into volatile markets or optimising long-term performance,” said senior product manager at GridBeyond, Ben Sigrin.
“The Australian energy sector is going through many changes with the renewables sector growing at a fast speed,” adds Gridbeyond managing director, Chris O’Brien.
“Forecaster can help to optimise energy use and consumption, maximising revenues and reducing carbon emissions.”
Headquartered in Dublin, Gridbeyond was first established in 2010 to manage and optimise grid-connected energy resources across the British Isles.
Since then, the company has expanded globally and is active in several major US markets, including the states of California and Texas, along with Japan.
