The renewable energy sector is volatile, characterized by fluctuating supply and demand, seasonal variations, and the impact of weather conditions on energy generation. As this sector continues to grow, market intelligence becomes increasingly vital for navigating its complexities. With the right insights, organizations can better understand the dynamics of renewable energy markets, anticipate changes, and make more informed decisions.
CyberGrid utilizes market intelligence to gain deeper insights into energy markets, employing various tools and techniques for data analysis, forecasting and decision-making. The company's market intelligence process begins with an overarching business analysis, grounded in current market knowledge. Once this general analysis is completed, unanswered questions are tackled through data analytics, enhancing the company's understanding of the market and strategic decisions.
With a centralized database that we use to store market intelligence data, we ensure reproducibility, scalability and enhance data analysis and collaboration. The data is queried using Python code, enabling modeling, visualization and advanced analytics. Additional tools, such as Grafana and GitHub, are used to ensure consistency and get the most up-to-date codebase.
Monthly reports
CyberGrid's market intelligence efforts cover several key areas, which requires a distinct approach and a combination of data sources and analytical methods. For instance, CyberGrid creates monthly reports for electricity providers to determine how well they are performing in the market.
BESS modelling
Another vital area is BESS modelling, where market intelligence is used to identify the best market to enter for the client’s battery, taking into account factors such as pricing, market dynamics, and battery management. CyberGrid is using historical data to simulate battery operation and compare it to current battery storage system’s results. This enables the company to adjust its simulations and improve accuracy.
Country feasibility
Moreover, based on market intelligence, assessments of the feasibility of entering new countries are being made. This involves a detailed examination of the target market, including the size of the market, the number of participants, potential revenues, applicable rules and regulations, and the competitive landscape. The goal of these studies is to determine whether entering a new country is strategically advisable and what the potential challenges and opportunities might be.
Market price forecasting
Market intelligence contributes to market price forecasting, helping predict future energy prices in a given market. This involves developing models using machine learning techniques to generate price estimates. The outputs from these models are then used to improve bidding and trading strategies, allowing for optimization and maximization of revenues.
Trading energy assets in different markets
CyberGrid is developing novel approaches to trading energy assets in different markets based on market intelligence. These strategies aim to maximize revenues and extend the operational lifetime of batteries.
The use of market intelligence is crucial for our business model. By leveraging data analytics, the company continually refines its understanding of market dynamics, empowering it to make data-driven decisions that enhance its competitive edge.
“The strength of CyberGrid’s Market Intelligence team lies in its diverse expertise, drawn from a wide range of backgrounds. The team includes professionals who have led trading desks, bringing a deep understanding of market dynamics and decision-making under pressure; as well as experts in analytics and statistics, market modelling and forecasting algorithms, who provide the technical expertise to process and interpret vast amounts of data. Additionally, the team benefits from specialists in energy marketing, whose insights ensure that strategies are aligned with broader market trends and customer needs. This multidisciplinary collaboration fosters a dynamic, innovative environment, enabling the team to approach challenges from multiple perspectives and deliver data-driven solutions that drive success across CyberGrid’s projects” - Nikolaj Candellari, Project Manager at CyberGrid GmbH.
