Telvent Selected by XOOM Energy to Provide Weather and Load Forecasting Technology
One of the country's largest energy retailers will use industry-leading forecasts to accurately predict energy usage
Telvent announced that XOOM Energy, one of the largest independent energy retailers in the United States, has selected Telvent to provide industry-leading weather and load forecasting technology to help them make educated purchasing decisions based on projected energy usage.
XOOM Energy buys natural gas and electricity in the wholesale markets to meet the demands of its customers in 10 states and the District of Columbia. Telvent's market-leading weather forecasts help XOOM Energy predict consumer demand more accurately and thus provide more competitive pricing and unparalleled customer satisfaction. Whether it is a heat wave, arctic outbreak of cold air, or rapidly changing weather regimes, Telvent's weather forecasts provide XOOM Energy unparalleled accuracy.
Data such as temperature, dew point, and wind speed will be delivered to XOOM Energy hourly. Plus, the company also has 24-7 access to Telvent's weather experts for questions regarding load forecast models, observations, and forecasts delivered 15 days in advance. Up to 90 percent of load forecasting errors can be attributed to inaccurate weather forecasting. By selecting Telvent — independently rated number one for forecast accuracy in the U.S. — XOOM Energy is choosing the same weather information provider as 70 percent of the country's major investor-owned utilities (IOU) and co-ops, who use Telvent's forecasts to enhance their smart grid solutions.
According to Telvent's Chairman and CEO, Ignacio Gonzalez, "We are committed to providing industry-leading weather technology to help our customers make critical business decisions. Using our solutions, Xoom Energy has access to the same market information used by top utilities across the country."
Telvent will add additional weather stations and forecasting locations in the future as XOOM Energy expands its geographic footprint within the natural gas and electricity energy retail markets.