A new AI weather model is already changing how energy is traded

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A new AI weather model is already changing how energy is traded - Economic Times

Quick Summary:

These advancements are crucial for managing market volatility and making informed weather-related decisions.

Unlike standard weather simulations, which only crunch information from satellites, sensors and the like, the AI model from Europe’s intergovernmental forecasting center also feasts on historical data.

In the future, AI could also tap new streams of weather information collected by non-standard sources, including cars, appliances, phones and other devices.“AI weather models have the potential to increase the frequency of forecast updates and improve performance,” said Edoardo Simioni, head of trading and flexibility at Copenhagen-based electricity supplier Reel ApS.