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Harnessing the power of advanced analytics to provide consistent LMP (Locational Marginal Price) basis forecasts across thousands of nodes in the ERCOT and PJM power markets.

When evaluating power assets for development, investment, or acquisition, one of the most important considerations for site selection is the electricity price at any given location.

Typical early- and mid-stage project evaluation or valuation is done with zonal price forecasts or using a simple nodal basis assumption. But these approaches are crude approximations; prices may vary widely between different nodes within the market. If the price at the particular node you are evaluating varies significantly from the zonal price in magnitude or volatility, your preliminary financial projections may be highly inaccurate. Full nodal production cost modeling will provide you with the answers you’re looking for, but early in the project scoping process you may need to assess hundreds of different prospective sites—full nodal modeling at this stage would be cost prohibitive. Similarly, in early stage M&A processes, you likely have neither the time nor the budget to commission a full nodal production cost simulation. 

Your solution is FastLMP.

The advanced data analytics methods in our one-of-a-kind FastLMP product provide a consistent and high-quality view of LMP forecasts by combining hourly LMP basis forecasts for two critical wholesale power markets, PJM and ERCOT, with IHS Markit zonal power price forecasts out to 2050. Using terabytes of data in our simple point-and-click mapping interface, we bridge the gap between crude heuristic methods and full nodal production cost modeling, helping customers gain access to better pricing and nodal risk information much earlier in their project lifecycle at an affordable price. 

There is no other product in the marketplace that provides you this quantity of accurate and consistent LMP forecast data, with such a user-friendly interface at an affordable price point.

FastLMP Overview

Our advanced data analytics solution can help you find the perfect site for your next power generation project.

Key Features:

Hourly LMP basis forecasts

High quality hourly LMP basis forecasts are available for more than 22,000 nodes across ERCOT and PJM.

Convenient mapping interface

Our mapping interface features dynamic heatmaps and filters that enable easy scoping of early stage deals.

API interface

Our full API interface lets you plug hundreds of pricing forecasts directly into your valuation models to get you the insight you need.

Vetted, accurate data and forecasts

You can trust our rigorously vetted data and forecasts:

  • Mixed model approach: We select the best forecast from four models that layer machine learning and advanced statistics on top of IHS Markit fundamentals forecasts.
  • Training period optimization: Keeps our data accurate by intelligently scrapping outdated or unrepresentative historical data
  • Dynamic model selection: Our algorithm chooses the most accurate forecasting tool using a twelve-month validation period which is then used to retrain the best model.
  • Stochastic outlier generation: We accurately replicate and generate outage behaviors and unusual pricing events using five layers of stochastic draws.

Not a “black box”

We offer total transparency on our forecast validation. We provide hourly model validation dashboards, model decompositions, and performance metrics so you can feel confident about the forecasts we deliver.

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Hourly model validation dashboards, model decompositions, and performance metrics

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Our algorithm chooses the most accurate forecasting tool for every node from a basket of machine learning and statistical models.

FastLMP Video Tutorials

Video 1: FastLMP Map Tutorial

Video 2: FastLMP Dashboard Introduction

Video 3: FastLMP Forecast Tab Tutorial

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