The TradeRES project, funded by the European Union under the Horizon 2020 programme, aims to revolutionise electricity markets by creating innovative designs tailored to systems with nearly 100% renewable energy sources. This initiative seeks to promote economic efficiency, supply security, and balanced market risk management, ensuring that the energy transition is both sustainable and widely accessible. Enlitia joined the international TradeRES consortium, contributing its expertise in performance optimisation and the integration of variable renewable energy sources into electricity markets.
As the European Union-funded TradeRES project (Tools for the Design and Modelling of New Markets and Negotiation Mechanisms for a ~100% Renewable European Power System) nears its conclusion, Enlitia reflects on the significant progress achieved in renewable energy forecasting. Collaborating closely with LNEG (National Laboratory of Energy and Geology), which developed the core forecasting methodology, and other TradeRES partners, Enlitia has advanced tools and methodologies critical for integrating variable renewable energy sources (vRES) such as wind and solar into the power grid.
Enlitia built upon LNEG’s forecasting methodologies to conduct and refine simulations for wind and solar energy across various regions and sites. Highlights include:
Forecasting simulations for:
Enlitia created the Market Web Decision Tool, an interactive platform designed to support energy market decision-making. Accessible at webtool.traderes.eu, the tool integrates:
Enlitia concluded its simulations by applying the vRES forecast pipeline to scenarios combining NWP data with historical power data. These simulations highlight the importance of hybrid forecasting models, which consistently outperform single-source models (NWP-only or historical power-only).
Despite significant progress, the project identified key challenges and areas for improvement.
Significant power forecast errors remain for the day-ahead market, particularly for wind and solar in Portugal and Spain.
Shorter forecast horizons in market designs can substantially reduce forecast errors.
For forecast horizons below six hours, models based on historical data often outperform NWP-based models, underscoring the need for context-appropriate methodologies.
Facilitating real-time access to observed power data is critical for improving forecast accuracy. This highlights the role of power producers in ensuring data availability.
Wind and solar PV technologies still face significant errors in the day-ahead market, even with adjustments such as delaying bids closer to real-time.
Enlitia’s contributions to the TradeRES project have delivered significant advancements in renewable energy forecasting:
The conclusion of TradeRES marks a critical milestone in renewable energy forecasting. Enlitia remains committed to:
These efforts, in collaboration with LNEG and TradeRES partners, underscore the importance of adaptive, data-driven forecasting methods to ensure a sustainable energy future.
For more information, explore:
“Our work on the TradeRES project reflects Enlitia’s vision of contributing to a cleaner and more efficient energy system. We are committed to creating practical, sustainable, and innovative solutions that benefit both market operators and society as a whole,” says Isabel Preto, Data Science Lead at Enlitia.
This work received funding from the European Union’s Horizon 2020 research and innovation programme under the TradeRES project.
Visit the TradeRES project website to explore the tools developed. Subscribe to the newsletter to receive updates and stay informed about upcoming consortium events.
Enlitia is an innovative provider of asset performance management & monitoring solutions, empowering the energy industry to thrive in the digital era. With our pioneering AI Platform, we deliver transformative results, driving growth, performance, and value for our clients. Unlock the power of data with Enlitia today.
