GridBeyond’s new and improved Forecaster software has officially launched in the National Electricity Market (NEM), promising to deliver more accurate results than the Australian Energy Market Operator (AEMO).
The company said when its Forecaster tool was run against AEMO forecasts for the first quarter of 2025, it delivered predicted pricing that outperformed AEMO in terms of accuracy by 15 per cent in Queensland, and up to 39 per cent in New South Wales (16–18 per cent on the peaks).
GridBeyond said these results are replicated across the NEM, with an average of 17 per cent more accurate forecasts than AEMO, and 13 per cent more accuracy in predicting price spikes.
In a recent case study for Queensland, GridBeyond said the improved forecasts translate into a 25 per cent increase in value for commercial and industrial sites that use the forecasts to avoid high energy prices, and an eight per cent increase in revenue for a grid-scale energy storage resource.
In an era of rising energy costs, increasing regulatory demands, and intensifying competition, forecasting tools are essential for businesses looking to optimising operations, control costs and meet sustainability goals.
As energy markets grow more complex, the ability to forecast and respond effectively becomes a defining factor in long-term competitiveness.
For energy-intensive industries – from manufacturing and logistics, to data centres and utilities – Forecaster is used to make accurate, real-time decisions about resource allocation and market participation, based on current and historical demand, supply, price, weather conditions and a range of other constantly evolving variables.
GridBeyond’s Forecaster enables companies to reduce their overall energy costs by planning operations to avoid high-cost periods, helping manage price volatility and strategic scheduling during low-cost periods. It also helps to anticipate energy supply fluctuations, hedge against price spikes and reduce reliance on last-minute purchasing managing risks.
The company said Forecaster also aligns energy consumption with production cycles and operational demand, allowing for smarter resource deployment and improved scheduling.
Forecaster is part of GridBeyond’s award winning asset management and optimisation solution suite for grid-scale storage, solar and other flexible energy resources. It provides insights for users that enable profitable and confident decisions for asset planning and operations seconds, days, and years into the future. Forecaster continuously adapts and auto-retrains for time-series forecasts using reinforcement learning.
It is the first of GridBeyond’s new suite of services available in the NEM. This suite includes:
- Baseline – for monitoring and visualising site and organisation-wide energy consumption and associated emissions in real-time
- Designer – leverages artificial intelligence to optimise prospective energy investments for profitability and sustainability
- Managed Battery as a Service – for battery energy storage monetisation with real-time market optimisation
GridBeyond Managing Director, Chris O’Brien, said the Australian energy sector is going through many changes with the renewables sector growing at speed.
“There is a lot of interest around distributed energy resources and how these can be used,” he said.
“That goes from businesses renewables assets to rooftop solar, batteries and EVs, which can be managed via our AI-powered platform to allow businesses and other energy stakeholders to protect themselves from energy price spikes, and also earn money from energy markets.
“Forecaster can help to optimise energy use and consumption, maximising revenues and reducing carbon emissions.”
GridBeyond Senior Product Manager, Ben Sigrin, said the company’s forecasting platform gives energy stakeholders the clarity they need to act with confidence – whether they’re bidding into volatile markets or optimising long-term performance.
“What sets us apart is the depth of our global experience. We’ve embedded hard-won insights from diverse energy systems into every layer of our software, so our customers don’t just get data – they get an edge.”
For more information, visit gridbeyond.com
