This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Global Weather Corp. Delivers Cost-Saving Wind Forecast Service To Xcel Energy

BOULDER, Colo., Sept. 19, 2012 /PRNewswire/ -- Global Weather Corp. (GWC) announced completion of the first full-year operational deployment of its WindWX SM energy forecast service with Xcel Energy (NYSE: XEL). This follows a multi-year R&D collaboration to develop the core technology, involving the nation's number one wind power provider, Xcel Energy, and the National Center for Atmospheric Research (NCAR), the world's leading atmospheric research laboratory. The result is a new global standard for accuracy in wind power forecasting.

With WindWX SM, Xcel Energy estimates that it has saved $17 million, including about $7.8 million in 2011 alone, and has reduced its forecasting error by approximately 28 percent since 2009.  Forecasts for a 168 hour period are provided every 15 minutes for all of Xcel Energy's service territory, which covers the nation's heartland from Minnesota to Colorado to Texas.

The WindWX system uses real-time turbine-level operating data and applies sophisticated algorithms to forecast the amount of wind power that will be produced. WindWX forecasts are available world-wide. They are designed to help utilities make decisions about powering down less-efficient power plants when sufficient winds are forecasted, and to optimize allocation of wind resources in the energy market.

"Wind power is expected to represent at least 17 percent of the energy we provide in Colorado today, as we approach our goal of 30 percent renewable energy by 2020," said David Eves, President and CEO of Public Service Company of Colorado, an Xcel Energy company. "GWC's high accuracy forecasts are critical to achieving this goal."

In the early morning hours of April 15, 2012, Xcel Energy's system in Colorado also reached a significant milestone, and served 56.7 percent of its load with wind energy.

"Wind power production is difficult to forecast due to its variability, and inaccurate forecasts are costly," said Xcel Energy Senior Trading Analyst Drake Bartlett. "The precision wind power forecasting service provided by GWC has significantly reduced our forecast error and allows us to know when to turn up or turn down coal- and natural gas-fired power plants. This saves us millions in production and market trading costs."

"Our work with NCAR and Xcel Energy has enabled us to provide the most accurate wind power service globally," said GWC CEO Mark Flolid. "We constantly monitor the accuracy of our forecast to ground truth at the wind farm. This results in millions of dollars in measurable savings because our customer has consistently better information to make critical scheduling and trading decisions."

About Global Weather CorporationWith the world's most accurate precision weather forecasts, Global Weather Corp. (GWC) provides time-critical data services to weather-sensitive industries such as energy, transportation, financial services, agriculture, digital media and consumer applications. GWC's private-label forecasts use core technology developed for more than a decade by the National Center for Atmospheric Research (NCAR), the world's leading atmospheric R&D institution. GWC leads the market trend toward more accurate weather delivered precisely when and where users need it. GWC was founded in 2009 in Boulder by the University Corporation for Atmospheric Research Foundation. For more information, visit www.globalweathercorp.com.

About Xcel EnergyXcel Energy is a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com

SOURCE Global Weather Corporation; Xcel Energy

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,067.56 -30.89 -0.18%
S&P 500 2,002.28 -1.09 -0.05%
NASDAQ 4,598.1880 +17.9170 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs