The Energy Solutions 360 platform provides the ability to generate electric, steam, natural gas, and water budgets based on historical invoice data, combined with various independent variables that may affect usage/demand for these commodities. These can be weather variables (such as wet bulb temp, HDD/CDD, humidity or cloud cover), occupancy variables (such as square feet occupied, percentage occupied, hourly full-time equivalents or rooms occupied), and any other variable that can be fed into our system to analyze.
Our algorithm analyzes billions of potential models, selects the best model based on relevant statistical thresholds (such as r2, adjusted r2, p-values or f-value), then forecasts the monthly billing period consumption/demand for the relevant fiscal year. These numbers are then processed through our supply and delivery rate engines. Supply rates are projected based on existing contract rates or product structure (such as fixed, index or hybrid) and on forward market pricing integrated into our Energy Solutions 360 platform. Delivery rates are projected based on actual tariff rates or historical averages.
Variance reports provide an analysis of actual invoice data against budgeted numbers on a monthly basis. And since our algorithm makes predictions based on a model incorporating weather, occupancy, and any other variable, we can identify and explain the drivers of monthly fluctuations and their impacts on consumption and costs.
Budgets can also be reforecasted based on actual to-date invoice data, allowing users to reprocess the forecast model with up-to-date information and generate current budget numbers.