Power
Energy trading and risk management software that manages power generation to distribution
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The Challenge
Firms that generate and trade power are facing a highly challenging environment that demands comprehensive energy trading and risk management software. Challenges include market liberalization, increased use of renewables and the need for more timely intraday position and risk reporting. New and existing regulations add extra costs and complexity in operational areas such as cross border trading, clearing, compliance reporting and accounting for hedges.
The Opportunity
The opportunity for improved profits lies within the operations of the business itself – within the chance to create a single resource including all relevant data, by breaking down silos within the organization, and through applying and sharing deep expertise up and down the enterprise.
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The Openlink Solution
Openlink provides a complete front- to back-office solution for power generation, transmission and distribution – covering the full range of commodities, emissions and derivatives. The single, integrated solution includes market interfaces for scheduling, trade capture, valuation, compliance and limits monitoring, position and risk reporting, collateral management, and treasury management. This eliminates much of the manual data integration and reconciliation work typically required in trading operations, and the business benefits from more timely and accurate information for decision-making. With Openlink’s scheduling tools, you can handle daily and intra-day nominations, manage communications and quickly identify imbalances across multiple markets and grid operators. Our system has the rules for key power markets built in. As a result, you can improve productivity and reduce the risk of errors and associated penalties/fees.
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Manage power scheduling across multiple markets
ChallengeDifferent markets often have different interfaces for power scheduling. Every morning, schedulers need to generate nominations for the day ahead and send them in the required format to system operators often across more than one country. However, the rules for power scheduling vary from market to market and there are different web or excel based interfaces for each. In using multiple interfaces, spreadsheets and file formats, there is a lot of manual effort and much possibility for error. This also means schedulers must monitor different screens to understand their nominations across counterparties and system operators.
SolutionOpenlink simplifies scheduling with one tool to manage nominations to multiple systems operators. With Openlink, you can handle nominations and communications across system operators in multiple markets. And built in are specific market rules for various area/system operators. We provide dashboards to generate nominations, send them to system operators and check for responses. You can view a summary of all messages sent and the responses received from system operators. Our solution highlights acknowledgment of nominations received, confirmation of acceptance from counterparties, and in the case of error, where action is required.
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Manage complex intra-day nominations
ChallengeIntra-day nominations add complexity to power scheduling. It’s increasingly common for system operators to break the day into multiple “gates” – often with different rules across time periods. So schedulers need to generate nominations multiple times a day for different markets with different time intervals and different rules. Beyond the complexity of manually managing this task, this is particularly an issue with new schedulers who are not as familiar with these rules.
SolutionAn Openlink solution can reduce manual effort in managing intra-day nominations. Our Openlink scheduling tools have intelligence built in to assist you in generating nominations multiple times a day, at different time intervals per market based on different rules (depending on the time of the day).
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Keep track of cross-border rules compliance
ChallengeCompanies need to ensure they are in regulatory compliance when trading and moving power between one control area and another (e.g. across borders). In some cases it is possible to sell power across the border to a counterparty directly, in others it is necessary to first transfer the power to a local legal entity owned by the same company before selling it onto a counterparty. It is challenging to keep track of the different rules and remain in compliance.
SolutionAn Openlink solution can run a report to see whether deals booked are in compliance with cross border market rules. And one can drill down to review problematic deals at the click of a mouse.
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Products that make up your Openlink Solution:
