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Recalibrated Weather Data Sets |
Speedwell Recalibrated Datasets re-base historical temperature data for important
reference sites by adjusting for known or observed discontinuities that have accumulated
over the lifetime of the observations. Discontinuities may arise from instrumentation
changes or changes in the location of the measuring instruments.
"Recalibrated data is the best possible baseline for risk analysis"
Why Recalibrated data is crucial:
- Houston (KIAH): discontinuity in previous decade equivalent to > 200 HDD on a
seasonal basis
- Kansas (KMCI): repeated discontinuities in current decade equivalent to circa 100
HDD on a seasonal basis
- Philadelphia (KPHL): discontinuity corresponding to > 200 HDD on a seasonal basis
in previous decade
- Dallas (KDFW): large warming and cooling discontinuities due to recent station
changes
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Impact of station moves on the KIAH historical record (minimum temperature) |
What is a Discontinuity?
A discontinuity is a sudden, distinct, and continuous change in the long term observations
for a site. A discontinuity represents an end of one continuous regime and the beginning
of another. A discontinuity is not a trend. Temperature discontinuities can take
the form of warmer or cooler temperatures and / or changes in the variance of the
observations. Corrections for all aspects of the discontinuity are important
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Discontinuity: a sudden, distinct, and lasting change |
Recalibration Theory
Let's suppose that for every location (airport) you have an ideal station (no moves,
changes,..) and a real-world station. By comparing the difference between the two
time series you can detect discontinuities created by the real-world changes to
the station.
Unfortunately, ideal stations do not really exist.
The solution is to
create your own ideal station. This is accomplished by modeling an ideal station
using data from surrounding stations. The modeled ideal station is known as the
reference time series.
We are then able to statistically analyse the difference
time series (DTS) for discontinuities. These results coupled with an understanding
of the stations history (metadata) allows one to accurately detect and quantify
discontinuities.
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Who should use Speedwell Recalibrated Datasets?
Weather Derivatives Traders - critical for pricing of weather risk contracts
where such adjustments are financially material in the modelling of current behaviour
of a weather reference site.
Energy Demand Modellers- important for demand modelling and those seeking
a precise understanding of current "climatology" at a given site.
Meteorologists / Climatologists - recalibrated data serves as an accurate
baseline for comparison when forecasting or making comparisons against "normal"
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Speedwell Recalibrated Datasets (What is included?)
The Speedwell Recalibrated Datasets bring an unprecedented level of sophistication
to the process of recalibration combined with transparency of method and a unique
real-time web-based service for monitoring the on-going behaviour of the reference
site.
Speedwell Recalibrated Datasets are provided on a subscription basis and are
available for individual sites or packs. Subscribers receive access to the Recalibrated
Dataset pack, the Monthly Report, Airport Maps, and the Real-Time Web Monitor.
Recalibrated Datasets Pack
Delivered on initial subscription and then updated on a six-month cycle the pack
comprises:
- Raw meteorological observation dataset as provided by the relevant National Met
Service.
- Cleaned dataset [erroneous observations replaced and missing values filled]
- Speedwell Recalibrated Dataset [cleaned data that has been adjusted to remove discontinuities]
- Recalibrated data supporting documentation:
- Station overview with commentary.
- Information regarding the proxy stations used and the creation of the synthetic
time series.
- Graphical representation of the statistical analysis.
- Station metadata - the most comprehensive archive available (includes an airport
change analysis diagram).
- Discontinuity table with comments.
- Valuation impact on monthly HDD and CDD values of the Speedwell Recalibrated Dataset
compared with the cleaned dataset.
Monthly Report
Monthly report detailing changes in recent station behaviour with meteorological
commentary, metadata updates, and the notification of future station changes.
Airport
Maps
For US CME sites, the Speedwell Recalibrated Datasets subscription provides
access to an on-line archive of annotated airport maps in one-year time steps. This
helps the user to understand how recent site developments may impact on behaviour.
Real-Time Web Monitor
Subscribers to the Speedwell Recalibrated Dataset are provided
with access to web-delivered software that allows the user to see the latest performance
of the primary site against a synthetic basket of near-by sites. The user is able
to plot moving averages and difference series for different periods to view recent
trends. Key statistics are summarised in an easy-to-read sortable table for all
subscribed sites. This is updated daily showing any significant recent moves.
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For more information and subscriptions please contact:
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Phil Hayes (U.K.) |
U.K. Office |
+44 (0)1582 465 551 |
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or David Whitehead (U.S.) |
U.S. Office |
+1 (0)703 535 8801 |
Or please contact us via the contacts
page.