New, improved electricity price forecasting tool claims to beat AEMO at its own game
Ireland-based smart energy management outfit Gridbeyond has released a new and improved version of its electricity price forecasting tool.
The company claims it is “consistently” more accurate at the task than the AEMO.
The “Forecaster” tool is part of a suite of products which help companies save money by predicting high-cost electricity periods and managing price volatility.
Price volatility is an increasingly common feature of Australia’s National Electricity Market (NEM) as it straddles the fossil fuel past and renewable future.
In the first quarter of 2025, Gridbeyond said its specialist software outperformed forecasts produced by AEMO by 17% on average across the entire NEM.
On a state by state basis, the margins went as high as 39% in New South Wales and as low as 15% in Queensland.