Spire Debuts Weather Forecast for Utilities and Commodity Traders
Spire Global is launching a new weather forecast model geared toward the energy and commodity markets. The High-Resolution Weather Forecast model announced Tuesday is designed to provide customizable weather forecasts to help energy traders, commodity traders, utilities, and grid operators anticipate the impact of weather on price dynamics, market trends and energy supply and demand.
The solution combines Spire’s proprietary data collected by its constellation of satellites including radio occultation (RO) technology, ocean wind, and soil moisture data, along with data from public sources such as NOAA, EUMETSAT and ECMWF. Customers can configure the forecasts by domain size, frequency and resolution down to 1 kilometer, covering any point on the globe, including open oceans.
This product is part of Spire’s Weather and Earth intelligence solutions.
“In an industry where volatile weather patterns directly impact commodity and energy prices, accurate weather prediction tools are crucial for risk management, optimizing investments and achieving a balance between energy production and consumption,” said Michael Eilts, general manager of Weather and Earth Intelligence at Spire. “Our regional high-resolution weather forecasts provide the essential insights needed to make informed decisions and stay ahead of the markets.”