PTC India partners Belgium’s N-Side on predictive solution for power market
1 min read 14 Mar 2023, 04:35 PM ISTThe partnership with N-Side is part of PTC’s long-term strategy to position itself as a technology-enabled solutions provider in the electricity value chain
PremiumNew Delhi: PTC India has entered into an agreement with Belgium firm N-Side to work on developing a predictive solution for the Indian power markets.
The partnership with N-Side is part of PTC’s long-term strategy to position itself as a technology-enabled solutions provider in the electricity value chain.
PTC is building a portfolio of tools across various tenors to forecast demand and prices in the electricity markets. This is in addition to the in-house PTC Analytics Lab that had been recently set up to generate proprietary analysis and insights for use by PTC and its clients.
The evolving Indian power market in which the behaviour of the market participants resulted in heightened volatility recently has validated the need for market makers to equip themselves with tools and solutions to support their decision making.
Rajib K Mishra, CMD (additional charge), PTC India, said: “The participation in the markets of the future would require a core competency of data analytics in all aspects involving descriptive, predictive, and prescriptive analytics and PTC is well on its journey to reposition itself as a technology enabled market maker.“
The government has also mandated PTC to trade electricity with Bhutan, Nepal, and Bangladesh. The trading activities undertaken by PTC include long-term trading of power generated from large power projects, including renewables, and short-term trading arising from supply and demand mismatches, which inevitably occur in various regions of the country.
