Hi there, I work in the energy sector of a small country.
Forecasting & modelling the generation decisions and price for electricity systems is a whole area of research but I notice all the models used by energy company’s in my country are between 10-20 years old.
I think I could build a better simulation of the market today by learning from these models as I have by working in the industry and then apply new methods that have come out in the past 10 years. There is already a company that provides this service and they have almost complete monopoly on this type of service in the country.
The issue is their model is ancient (built 20+ years ago) and I believe I could build something better within a year. They charge each client (a power company, or other company with a interest in the energy markets movements) cover 100k per year as a subscription, I would only need to capture a couple client’s to make the business profitable.
Could anyone provide advice for thoughts on things to consider when starting a small business like this?
submitted by /u/Blue__Agave
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