ITK's price forecasting product
Our core product at ITK Services is Australian National Electricity Market (NEM) price forecasts and supporting analysis of the power sector. We have a healthy skepticism around forecasting: no model will ever be quite right, but the crystal ball isn’t really satisfactory either.
So our forecasts are created with a variety of inputs. We undertake simple modelling of the power market to simulate how generators meet demand, and use our extensive market experience to form judgements on participant behaviour and market power. We cannot stress enough how important these aspects are to past, current and future prices.
We regularly update our forecasts – once a quarter as a matter of routine, with additional updates when required. We believe these updates are what makes our forecasts special: a flexible, dynamic forecast is far more useful than a one-off static view.
Our analysis is accessed through the client area of our website.
The key features of our product include: