A couple of weeks ago, I was given the opportunity to join some of my colleagues in representing Statkraft at the E-World energy & water fair. I was lucky with the timing, since I only had a few days left of my trainee rotation in Düsseldorf.
E-World is held in Essen, a comfortable 30 minutes drive from our offices, and is one of the largest energy trade fairs in Europe. Naturally, it is an important place for Statkraft to be present. There are several reasons for this. We want to maintain good business relationships with our existing partners, potentially gain new ones with other companies and exchange ideas with the rest of the sector.
So what was exactly my role at the fair? The last six months at my rotation in Germany have involved working with forecasts for our wind and solar portfolios on the continent and in the UK. The production forecasts are very important, since they directly affect the positions that our traders take on the power markets. If there is a large deviation between the forecast and the real production, well then we might have to pay huge imbalance costs if we are not able to balance the position in time. With this constantly as a large focus area, we are always seeking ways to improve our modelling. Therefore, we were eager to hear about the latest trends in the forecasting field and meeting companies at E-World.
With 650 exhibitors and 24.000 trade visitors, participating also gave a very nice opportunity to get some more hands-on information on what other companies in the sector are doing as well. It was really interesting to walk around all the stands, meeting people and discussing new developments. The companies ranged from the largest players in the field to small new start-ups.
After six months of renewable energy forecasting tasks in Düsseldorf, last Friday it was time to move back to Norway. Common for my three first trainee rotations have been a relatively large focus on operational work and short-term optimization. For the last rotation, I will be working with long-term strategy for the market division. Thus, the time horizon will be greatly expanded in my new tasks, and I am looking forward to get experiences with this type of work as well.
Until next time!