Case Study: Major Electric Power Holding Company achieves more accurate, risk-aware load forecasting with Palisade's DecisionTools Suite

Major Electric Power Holding Company Conducts Stochastic Load Forecasting using The DecisionTools Suite

Major Electric Power Holding Company, a large utility in the Eastern US, faced increasing uncertainty in load forecasting as new technologies, changing customer behavior, and volatile weather made traditional deterministic models unreliable. To support multi‑billion dollar planning decisions, the company adopted Palisade’s DecisionTools Suite (including StatTools and @RISK) to move from single‑point forecasts to a stochastic, scenario‑based approach.

Using Palisade’s DecisionTools Suite the firm built multivariate regressions, fitted residuals, introduced observed weather variability, ran distribution fitting (AIC chose the normal distribution for most equations), and generated full distributions of sales outcomes and driver contributions. The solution delivered a richer picture of revenue volatility, greater confidence in forecasts, faster computation and easier model sharing, and materially improved risk assessment and decision support for management.