SOURCE: Genscape, Inc.

July 11, 2005 08:30 ET

Genscape Launches Gas Data Service

LOUISVILLE, KY -- (MARKET WIRE) -- July 11, 2005 -- Genscape Inc., the nation's first and only supplier of real-time power plant output and transmission status information, today launched a data service for the gas industry.

The centerpiece of the service is an accurate daily estimate of gas used for power generation. The Genscape Gas Burn Report will be delivered daily as a data feed.

"Gas traders have used all kinds of rough guesstimates of gas consumption in the power sector. Now they have a number based on direct measurements," said Abudi Zein, Sr. V.P. of Data Resources.

Gas use in the power sector is the least-well-defined variable in the models that industry participants use to anticipate the Energy Information Administration's weekly gas storage report. Discrepancies between market expectations and the actual EIA number can lead to wide market fluctuations and high volatility.

"We are excited to be bringing a measure of transparency to this market. In the power sector our data has enhanced liquidity by giving traders more hard data on which to base their decisions. We look forward to doing the same for natural gas and other energy markets as we continue to expand our offerings," said Sean O'Leary, chief executive officer and co-founder.

The Genscape gas burn estimate is based on direct measurements of generation and power flows. Genscape monitors electricity flows at more than 1,200 points across the United States.

During data testing, the gas burn estimate was shown to improve the accuracy of standard models for predicting the EIA storage number by 15%-25%.

In addition to the Daily Gas Burn Report, Genscape will publish its own prediction of the EIA gas storage figure on Tuesdays in the Genscape Gas Storage Report. This product will also be included as an enhanced feature to the Daily Gas Burn Report.

ABOUT GENSCAPE

Genscape's information gathering and distribution system consists of technology to monitor the real-time power output of power plants and load on high-voltage transmission lines. Information reported to customers includes highly accurate estimates of the real-time power output for generating facilities, power flows over strategic transmission paths, and associated information.

Genscape Inc. is the only company to have commercialized the provision of real-time power supply information to support decision-making for energy traders, power plant and line owners and operators, regulators, and other energy market participants. Genscape maintains a 55-person staff and an international headquarters in Louisville, Kentucky.

Contact Information

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