Day three of our Energy Summit covered the nuances of physical delivery of power in various markets and settlement processes across Europe. We also looked at the power of proactive management via our powerful alerting tool.
EDIS Reserve Bidding
We started the day looking at reserve bidding and auctions processes in Denmark and Switzerland. Ismail Gyursel, product owner of Brady’s energy scheduling solution (EDIS) explained the specific nuances for these two markets. Specifically looking at messaging formats, deadlines, the various documents in involved and communications workflow.
Ismail presented new functionality released in EDIS. Explaining how customers can comfortably meet the requirements of both the Danish and Swiss TSOs (Energienet and Swissgrid). Brady customers benefit from a single place to monitor all reserve bids. They can see in real-time communications from these TSOs. This enables our customers to optimise their physical trading process.
Brady’s scheduling system allows customers to access power markets across Europe. They are compliant to the requirements of a multitude of TSOs. With the capability to react quickly to TSO alerts and an accurate view of their positions, they can make smarter, faster decisions for the timely delivery of power.
Nordic Balancing Model (NBM)
The NBM presents an ambitious roadmap for three key goals;
- Harmonising the region’s settlement process
- Facilitating European market integration
- Improving balancing market efficiency
Major changes anticipated include;
- Ongoing work to support Nordic aFRR capacity market
- Implementation of a single price model
- Changes for mFRR Energy Activations Market – leading up to Mari-platform
- Moving towards a 15 min Imbalance Settlement Period
In this interactive session, we talked through the expectation of each workstream of the NBM roadmap. Our product team then led a candid discussion with customers, identifying impact on current business processes. Customers also contributed suggestions on system developments to support these requirements, that would best fit their internal business processes.
Passive to proactive – the value of alerting in todays’ world
Our final session was presented by Ian Tobin, Brady’s Credit Risk Product Director. Ian highlighted the significant impact of Covid-19 in managing counterparty and market risk. This is now an issue high up on board agendas.
A demo was shown of Brady’s real-time alerting solution. Ian explained how customers could now act immediately to changes in the business from a whole range of performance indicators. Examples of energy alerting scenarios customers can use are;
- Trade events
- Counterparty situation
- Approaching deadlines
Brady’s solutions for energy scheduling and credit risk management integrate to any deal capture/trading system. Our best of breed systems provide customers with more choice and efficiency to add value to other areas of their business.
If you missed a session today, contact your account manager to get further information on today’s presentations.
Get in touch to learn more about Brady’s physical power solution