Iceland faces a process of deregulating the electricity market and during a few years all customers will be eligible. To be able to operate efficient in this new situation Iceland State Electricity, RARIK, has chosen Powel Demand for short and medium term demand forecasting. The solution will reduce imbalance and make their trade business more profitable and it includes a manager for calculations, reports and web presentations. An integrated part of the system is a web interface for customers to edit their standard plans and update RARIK trade obligations with the result of reduced imbalance and more exact demand forecasts. It also includes a “time series calculator” making the operator possible to create reports and analyses and a web interface for reporting results. The system has automatic import of weather parameters (measurements and forecasts) as a major functionality.

About RARIK
RARIK is state owned and has customers and grid in most parts of Iceland. The company has approximately 48.000 customers and the total power sale is about 1.1 TWh and ca 85% is bought in the market. 15% is own production from 9 different small hydro power plants. RARIK has transposed from being primarily a construction project company, into an operating and marketing-oriented service company.