Competition
Understanding the local electricity market
You work for an energy company in Australia. Your company builds solar panel arrays and then sells the energy they produce to industrial customers. The company wants to expand to the city of Melbourne in the state of Victoria. Prices and demand for electricity change every day. Customers pay for the energy received using a formula based on the local energy market's daily price. Your company's pricing committee wants your team to estimate energy prices for the next 12-18 months to use those prices as the basis for contract negotiations. In addition, the VP of strategy is researching investing in storage capacity (i.e., batteries) as a new source of revenue. The plan is to store some of the energy produced by the solar panels when pricing conditions are unfavorable and sell it by the next day on the open market if the prices are higher.
Prize
$500
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By continuing, you accept our Terms of Use, our Privacy Policy and that your data is stored in the USA.Your challenge
- How do energy prices change throughout the year? Are there any patterns by season or month of the year?
- Build a forecast of daily energy prices the company can use as the basis of its financial planning.
- Provide guidance on how much revenue the energy storage venture could generate per year using retail prices and a 70MWh storage system.
Prizes
1st
$500 or a donation to a charitable cause of your choice
2nd
$400 or a donation to a charitable cause of your choice
3rd
$300 or a donation to a charitable cause of your choice
4th
$200 or a donation to a charitable cause of your choice
5th
$200 or a donation to a charitable cause of your choice
How to get started
Create your most insightful analysis using DataLab, our in-browser tool to write, run, and publish data analyses. Once you’ve finished your work, you’ll need to publish it for review.
Judging criteria
Recommendations (35%)
- Clarity of recommendations - how clear and well presented the recommendation is.
- Quality of recommendations - are appropriate analytical techniques used & are the conclusions valid?
- Number of relevant insights found for the target audience.
Storytelling (35%)
- How well the data and insights are connected to the recommendation.
- How the narrative and whole report connects together.
- Balancing making the report in-depth enough but also concise.
Visualizations (20%)
- Appropriateness of visualization used.
- Clarity of insight from visualization.
Public upvotes (10%)
- Upvoting - most upvoted entries get the most points.
Rules
- Entries to the competition take the form of a workbook publication. Make sure the competition publication is publicly visible in order to be entered into the competition.
- Your publication should be focused on data provided within the competition.
- The competition is open and free to registered DataCamp users.
- Only one entry per user. You may update your entry up to the deadline.
- Make sure your competition workbook is published by the competition deadline in order for it to be valid.
- You can check the time left to submit on the counter at the top of this page.
Note: Please make sure you're 18+ years old and are allowed to take part in a skill-based competition from your country.