Energy forecasting and network calculations for a global market
Vitec Energy’s software is used by companies in more than 25 countries. The business stands firmly on two legs – energy forecasts for energy companies and network calculations for district heating companies. Energy forecasts predict the coming days’ consumption and electricity production, which is the basis for active participation on Nordpool, the Nordic electricity exchange. The network calculations help district heating companies to plan investments in existing and new infrastructure.
Our current situation with power shortages in some parts of the electricity grid is new to us in the Nordic region. If the supply of electricity is insufficient, it needs to be rationed to ensure electricity for essential services. Reliable forecasting is crucial for maintaining balance in the electricity system.
“We’re in a perfect storm right now, with several critical factors converging – the climate perspective, high energy prices and power shortages in the electricity grids. Our systems provide reliable and accurate forecasting along with energy storage optimization. These services are central to the energy industry right now,” says Niklas Berg, CEO of Vitec Energy. We also see opportunities to expand the use of our forecasting tools to other areas where the need for energy optimization is high, such as the property management industry.
A business with customers in many parts of the world creates an international environment, both in external contact networks and among employees. The pandemic showed that people do not have to travel long distances in order to work together, which benefits the climate. Sustainability is an integral part of the business, and the value created for customers ultimately involves using the earth's resources more efficiently.
“Demand for our services is high and we are growing rapidly. In the last year, we increased our staff by 25%. We can offer our employees a stimulating work environment, exciting and important projects for the largest energy companies in Europe and colleagues from all over the world. We attract experts who want to make a real difference.
These activities contribute to the UN's global goals, including Combating climate change.