Basin Electric team improves short-term load forecasting accuracy, reduces costs

Basin Electric's Energy Markets team has significantly improved its short-term load forecasting process, leading to major cost savings and more accurate forecasts.

Short-term load forecasting estimates how much electricity members will need over the course of hours or days.

Patti Weisz, supervisor of Energy Forecasting and Analytics, said the improvements stemmed from a continued focus on refining forecasting models and ensuring high-quality data is used throughout the process.

"We have focused on continuously monitoring forecast models and collaborating with other Basin teams and groups to make sure we have quality data going into the models," Weisz said. "By doing this, we've increased the accuracy of our forecasting and, in turn, delivered better results."

More accurate forecasts help the Energy Markets team make better decisions in the electricity market, reducing unnecessary costs and strengthening operational planning.

"The biggest benefit is the cost savings," Weisz said. "Accurate forecasts help us make better market decisions and avoid unnecessary costs. From 2023 to 2025, we reduced costs associated with forecast errors by nearly 70%, while also improving confidence in our daily operations and planning."

Weisz credited the achievement to a collaborative effort involving multiple teams across Basin Electric.

"This really was a team effort," she said. "By focusing on better data, continuous improvement and collaboration across other teams, we've been able to deliver better results to Basin Electric and its members."