Investing For The Future: Member load forecasting

The member load forecast starts and ends with the members. Data is provided by them to produce a forecast result that is then reviewed and approved by them.

Missy Schell, Basin Electric load forecast analyst III, says load forecasters understand the broad economic issues facing our members, but it’s members’ local knowledge and expertise that’s critical to informing and guiding the way we analyze their unique systems and predict their needs.

Members file certain federal and financial forms detailing their annual sales by consumer category, and Basin Electric obtains this information from them, along with their monthly demand and energy purchases from their power supplier(s).

Member feedback is integrated to arrive at a final forecast, approved by them and their board of directors. The final result is a forecast of Basin Electric’s monthly demand and energy sales, which is used in budgeting, financial forecasting, rate setting, and transmission and power supply planning.

Collaborating with members on the forecast inspires cooperation, honesty, and accountability. Basin Electric works with its members to analyze, update, implement, and innovate rates to accommodate the struggles or opportunities members are seeing within their service territories.

Read more in the feature from our 2023 Annual Report: Member load forecasting