Power and Utilities Part 3 - Introduction to Monte Carlo Analysis for Electric Utilities

Thursday, August 6th, 2020

Risk analysis modeling insights, plus live Q&A with an expert

The webcast series progresses from basic to advanced technical concepts in the 1st four sessions, concluding with a final session covering management approaches for building internal analytic capabilities. Example models will be demonstrated to show how the theory is put into practice.

Participants will gain a great understanding of the following:

  • What is Monte Carlo analysis and how is it particularly beneficial for electric utilities?
  • What types of economic analyses are worth the added complexity of Monte Carlo analysis?
  • What are best practices for building models that can make full usage of @RISK capabilities?
  • How do you explain the results and promote adoption of advanced techniques?
  • What are best practices for introducing and promoting the adoption of advanced methods such as Monte Carlo analysis?

Session 3: Energy Market Price Forecasting

  • Understanding spot prices, forward prices, and forecasts
  • Short-term, mid-term, and long-term price forecasting considerations
  • Cross-commodity and serial correlations
  • Forecasting approaches using Palisade DecisionTools Suite Importance and methods for incorporating uncertainty

We'll send the calendar invite to you via email.