Type: FP7 programme Research and Innovation Action
Countries: Spain, Portugal, Germany
Duration: 2013 – 2017
The project was aimed at optimising energy expenditure from irrigation activities in the agricultural sector.
To this end, Creara developed a price prediction tool for the wholesale electricity market in order to adapt the demand for growing water to the cheapest electricity hours and thus reduce energy costs.
The variables considered in the study included the availability for generation of the different technologies, weather forecasts, generation, demand and derivatives markets. As a result, the hourly electricity matching price was estimated using an algorithm designed by Creara that took into account the variables analysed.
Project website: www.weam4i.eu