#Japan #Tokyo #Japan Meteorological Corporation #Electricity Demand Forecast #Energy Supply Management

Japan Meteorological Corporation Expands Reach with Demand Forecasting Service

The Japan Meteorological Corporation (JMA) has recently announced a significant milestone in its electricity demand forecasting service, surpassing 30 clients both domestically and internationally since its launch in 2016. This service plays a crucial role in managing supply and demand across Japan's electrical grid, especially considering that it currently predicts over 30% of the total sales volume of retail electricity from various retail electricity providers nationwide.

This service is widely implemented not only by major power generation companies but also by a number of top-tier retail electricity suppliers based on their sales volume. The increasing adoption illustrates the growing trust in JMA's capability to provide accurate forecasts, which are essential for effective power management and market trading.

Accuracy Levels

The service's reliability has been highlighted through its performance metrics. Many of the service's users within the major electricity hubs, such as Tokyo and Kansai, have achieved an impressive annual average Mean Absolute Percentage Error (MAPE) in the low single-digit percentages. This level of accuracy showcases JMA’s commitment to delivering precise demand forecasts, which are critical in balancing electricity supply and demand.

JMA's electricity demand forecast service provides clientele with predictions categorized by regional power usage. It can offer forecasts in 30-minute increments for up to 120 hours into the future, utilizing proprietary weather data alongside clients' actual demand and contract capacity data. This integration allows JMA to combine weather and renewable energy prediction technology with data analysis techniques to deliver forecasts with remarkable accuracy.

Diverse Applications

The implementation of this demand forecasting service spans various use cases. Not only is it utilized by retail electricity suppliers for efficient demand management, but it also assists energy storage system operators in planning their operational strategies for charging and discharging in accordance with market demands. This capability enhances the strategic entry into electricity markets, optimizing bids based on accurate demand predictions.

Future Prospects

Moving forward, JMA aims to further enhance their forecasting capabilities and address the specific needs of their clientele by developing tailored systems and providing critical forecasting information. Such advancements will significantly contribute to stable power supply management, enhance demand-supply coordination, and reduce discrepancies in performance.

Related Services

In addition to the electricity demand forecasting, JMA offers several related services such as:

• - Area Demand Forecasting Service: Assisting in demand response optimal activation.
• - Energy Storage Control Support: Aiding energy storage operators in battery management.
• - Energy Demand Variation Analysis: Providing thorough analyses of energy usage fluctuations.
• - Price Forecasting Services: Helping in predicting electricity trading prices.
• - Surplus Power Forecasting for Individual Consumers: Targeting individual consumers to manage surplus electricity supply efficiently.

Overall, JMA's electricity demand forecasting service not only demonstrates a competitive edge within the energy sector but also reflects the growing reliance on data-driven decision-making in the context of energy management.