New York, NY / Boston, MA — September 12, 2008 — Genscape and AER, leading experts in electricity market data and seasonal temperature forecasts, reported today that their natural gas consumption forecast for June, July and August 2008 was within 4% of actuals. This summer’s actual US temperatures were cooler than 30 year normals from a much rainier period in the Southern tier states, making it a particularly difficult summer to forecast. Total US gas consumption came in at 2724 bcf as compared with AER/Genscape’s April forecast of 2629 bcf.
The Energy Seasonal Forecast is part of a new service created jointly by the two companies. This proprietary forecasting technique uses AER’s highly skilled seasonal weather forecasts and Genscape’s real-time electricity generation data to create an accurate data-driven estimate of natural gas and coal demand by the power sector during the summer and winter months. The winter report is due out next week.
Atmospheric and Environmental Research, Inc., established in 1977 and headquartered in Lexington, Massachusetts, is a Nobel prize winning environmental research and consulting company. AER provides quantitative probabilistic weather and hurricane forecasts & consultation to support trading and planning decisions in the Energy and Financial Markets. AER scientists are recognized experts in climate, hurricane, emissions and weather forecasting.
Genscape Inc. is the originator of real-time power supply information to support decision- making for power marketers, regulators, utilities, distributors, and other energy market participants. In addition to real-time power flows, Genscape supplies data on the fundamentals of coal, gas, oil and emissions in the United States and Europe. Genscape's parent company is DMG Information, the information publishing division of the Daily Mail and General Trust plc.
Stephen Walker, +1 781-761-2312
Mike McAuiffe, +1-502-583-4315