Demand forecasting informs many critical business decisions in electric and gas companies. Creating an accurate forecast for consumer demand will make your company more competitive in the marketplace. However, preparing a demand forecast requires a wide range of analytical skills, research, and experience. To be successful, you need a thorough understanding of statistical analysis, the industry, the subject company and its service territory, and regulatory precedent.
At ScottMadden, we have significant experience preparing, evaluating, and supporting demand forecasts. We have worked with clients:
- As expert witnesses, to develop and support demand forecasts
- To evaluate current demand forecast methodologies and provide feedback on areas of improvement
- To prepare benchmarking analyses to understand current industry standards on demand-forecasting issues
We will partner with you to ensure that the demand forecast is statistically robust, reasonable, and takes into account your company’s unique situation. Additionally, our experts understand the complex regulatory issues surrounding demand forecasting. This allows us to perform the statistical analysis and provide strategic insights in order to best meet the requirements of your regulators.