The energy markets are now much more than an obscure and speculative playground for a few specialised traders. The European legal framework is developing towards more free trade and the attitude of professionals and consumers towards markets is also changing.
Quite simply this is because electricity is the energy of the future; it is essential to reduce our carbon footprint. This issue has become a priority throughout the European Union as the leaders of the 27 Member States have committed to reducing greenhouse gas emissions by at least 55% by 2030.
As a result, the historical oil producers (BP, Shell, ENI…) are investing massively in electricity and many new players are launching in new businesses such as aggregation, storage, or renewable energy production. For example, BP has announced that it will invest 4 billion per year in renewable energy.
To meet this challenge, data is an essential raw material. With the explosion of open data initiatives in Europe, most players are faced with a veritable avalanche of data and urgently need to find solutions to process all the information available and make the right buying and selling decisions on the markets.
In this context, the French start-up COR-e is launching a new platform that simplifies data collection and processing while offering forecasts modelled by artificial intelligence (AI). This is how it can offer all stakeholders a modern and much more accessible approach to understanding the energy markets, and the electricity market in particular.
A platform to get to grips with the power market quickly and thoroughly
Understanding and anticipating the development of the power market has become essential for many energy players:
Producers: Subsidies guaranteed in the past (renewables, coal etc.) are regularly questioned. Energy producers in Europe can therefore no longer afford to build a business model by ignoring the market.
Retailers: They are now obliged to offer a variable-price power offer to private and business consumers.
Industrials: Often very energy-intensive, manufacturers would like to make the most of the flexibility of their consumption by taking an interest in the short-term energy and capacity markets.
To help them master this volatile market, COR-e offers a platform that simplifies data aggregation and enhances short-term & long-term forecasts, using AI-generated scenarios.
COR-e can enable actions on 3 levels:
- Collection: aggregation of multiple sources, quality control and format alignment;
- AI Modelling: production, consumption and price forecasts, real-time adjustments;
- Presentation: simplified access to all data, streamlined interfaces, customisable alert system.
Emeric de Vigan, the founder, highlights, COR-e manages 100M of data, in over 20 countries, and provides automated fundamental data management services and real-time updated forecasts using AI.
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