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04 Jan 2024

Yes Energy Acquires TESLA, Inc.

Tesla Energy Forecasting (CEE) Stand: 8

Yes Energy, a leader in power market data, today announced the acquisition of TESLA, Inc. The combination of TESLA, Inc. and Yes Energy will add tremendous value to power market analysts by creating an integrated solution for load forecasting and analytics in the highly data-intensive power markets. These power demand forecasts will help Yes Energy’s customers better understand how demand will impact power market prices given the extent of supply and transmission congestion.

"One of the hardest things traders need to do every day is to understand how local weather, renewable generation, market economics, and consumer behavior intersect to affect the demand for electricity in the near future,” said Michael McNair, CEO of Yes Energy. “We are excited to welcome TESLA, Inc. to Yes Energy to help our customers solve that problem.” 

TESLA’s long history of providing highly reliable demand forecasts to power companies around the world, plus Yes Energy’s industry-leading data platform creates a powerful combination for traders, marketers, and operators, who can now see projections of electricity demand in the full context of surrounding power market data. “This is a powerful partnership because both companies share a passion for helping customers decipher complex power markets,” added McNair.

Founded in 1992, TESLA Forecasting Solutions are widely recognized as a market leader for demand forecasts. With a deep bench of demand forecast experts, customers rely on TESLA’s team to glean insight into the “why” behind market forecasts. TESLA, Inc. has built its reputation as the global leader for power market forecasting on data integrity, with the most thorough and advanced algorithms honed over the past three decades.

TESLA’s global footprint and reputation as the most reliable provider of demand forecasts combined with Yes Energy’s leading data delivery capability creates an opportunity to provide value to power market analysts around the world as competitive, data-intensive markets continue to rapidly evolve. 

“The energy transition is happening around the globe, adding complexity to traditional demand forecasting models. We believe we can provide new actionable insights for our customers to help accelerate the energy transition and the formation of competitive markets by combining Yes Energy’s core capabilities with TESLA’s forecasting capabilities,” added McNair. “Yes Energy prides itself on helping customers Win the Day Ahead through Better Data, Better Delivery, and Better Direction, and TESLA clearly complements these capabilities.” 

John Sneed, Co-founder and Group President of TESLA, Inc. added, "As we embark on the next chapter of our growth, it was important for our team and TESLA’s clients that we find a partner that shares our core values, which center on providing the best market intelligence available coupled with a commitment to our clients to provide them with the best service possible. We look forward to teaming with Yes Energy as we continue to develop new capabilities to serve our customers in the years ahead.”

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