The global transition to renewable energy sources, and in particular the increased penetration levels of wind and solar in many jurisdictions, has led to new challenges in power system reliability associated with the integration of these variable, … [Read more...]
Two Decades of Progress in Forecasting Accuracy
Some time ago I was asked by an energy commissioner to provide an estimate of how much the forecasting accuracy has improved over the past two decades, and what accuracy level she could expect in her area. When asked such a question, it’s comparable … [Read more...]
Blog: If Everyone Thinks Everyone Else is Doing It That Way, It Must Be the Right Way….
Nassim Taleb's "Black Swan theory" is mostly the result of a long-term trader's experience. It provides a glimpse on the consequences of ignoring the existence of black swans, where most money has been lost by continuing to "do like everybody else is … [Read more...]