The Factor Forecasting Process

Last updated: March 19, 2026

A Forecast request is where Rate Sets are combined with a forecast configuration, and consumption data to produce a rated output.

Forecast components

A Factor Forecast has the following components:

  1. A forecast configuration. For example, a forecast basis, battery configuration, PV configuration etc.

  2. Historical consumption data. Most forecasts require some form of historical usage data to be provided.

  3. One or more Rate Sets.

The Forecasting process

When a new forecast request is initiated the following steps are undertaken:

  1. File ingestion. Factor will import the consumption data provided and confirm it can be processed.

  2. Volume forecasting*. The consumption data and forecast configuration is used to generate a future volume forecast.

  3. Rating. When the volume forecast is complete, this output is then rated using the given Rate Sets.

*Volume forecasting is not executed when the forecast basis is set to 'Price uploaded usage data'.