Development and Implementation of a Web-based Demand Forecasting Service
University of Illinois at Urbana-ChampaignThis E-Team has developed GASDAY, a rolling eight-day natural gas load forecasting service for large and midsized local distribution companies (LDCs). The team's objective is to scale the GASDAY service to provide affordable accessibility to small municipal gas utilities. Smaller-sized LDCs will enjoy the benefits of this industry-leading load forecasting package built specifically for their customer base. The service increases a forecaster's understanding of and confidence in the gas load forecast.
GASDAY has three advantages over its competitors. First, it's an existing tool based on ten years of research and used to forecast more than 17% of the nation's natural gas demand. Second, GASDAY's biggest competitor is usually an in-house forecasting employee; because small LDCs often cannot afford developing a solid forecasting tool, GASDAY can cost-effectively fulfill their need. Finally, the project has several industry experts guiding and supporting development.
The E-Team includes two graduate students specializing in computing and marketing and two undergraduate students majoring in computer engineering and electrical engineering. Two professors of engineering and one industry expert support the students. Visit the project's website here
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