I have been involved with forecasting since the mid 1970s. My undergraduate essay deals with forecasting models and my masters’ concerns the effect of outliers or unusual extreme events on projections. I have built forecasting models for everything from commuter train ticket sales to oil field production and supervised forecasting teams that produced millions of datapoints every year. But I still get surprised when people mix up where forecasts come from and what they mean. The lead graph from the UPME’s latest energy projections (above) illustrates the issue.
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Colombia is discussing energy prices and reservoir levels. Experts spoke on the matter.
Read moreThe Mining-Energy Planning Unit (UPME) announced an update to the 2020-2050 energy plan (PEN).
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XM, operator of the National Interconnected System (SIN) and administrator of the Wholesale Energy Market (MEM), reported on the behavior of this metric in 2020. NOTE: Truncated scale
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XM reported the energy consumption in March this year and the behavior of this metric was positive compared to the previous year. The company said that demand is falling in the middle scenario of the Mining and Energy Planning Unit (UPME) forecasts.
Read moreThe Colombian government continues taking measures to help stabilize Electricaribe’s service in the country, while finding a new operator. Natasha Avendaño, Superintendent of Public Services, announced new resources for the firm.
Read moreÁngela Montoya, president of the Colombian Association of Electric Power Generators (Acolgen) explained why ‘El Niño’ phenomenon will not affect energy tariffs this year.
Read moreThe emergence of Hidroituango has created a difficult financial and operational situation for EPM and this will take years to be solved. However, the firm is not the only one affected, as Medellin's revenues will decrease because of this crisis as well.
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