Implications of variation in weather on business decisions relating to gas distribution.
LOCATION
SPEAKER | Dr. Shirley Coleman, University of New castle upon Tyne.
ABSTRACT | Domestic gas demand is highly related to weather. In particular, within a wide range of temperatures, gas demand increases with every degree drop in temperature. Good demand prediction is vital for sound gas distribution management. If less gas is used than predicted then excess gas has to be stored, if more gas is needed then it has to be bought at the current spot price which is usually expensive. Gas is supplied over a wide geographical area but temperature is currently only measured at specific points often many miles apart. Temperature measurements are expensive to collect. This talk addresses the question: how variable is the temperature over a region and is more granular measurement a justifiable business expense?
SPEAKER | Dr. Shirley Coleman, University of New castle upon Tyne.
ABSTRACT | Domestic gas demand is highly related to weather. In particular, within a wide range of temperatures, gas demand increases with every degree drop in temperature. Good demand prediction is vital for sound gas distribution management. If less gas is used than predicted then excess gas has to be stored, if more gas is needed then it has to be bought at the current spot price which is usually expensive. Gas is supplied over a wide geographical area but temperature is currently only measured at specific points often many miles apart. Temperature measurements are expensive to collect. This talk addresses the question: how variable is the temperature over a region and is more granular measurement a justifiable business expense?