Today’s power companies and utilities must deal with unprecedented volatility in power prices, complex transmission networks, and evolving regulatory requirements. (Learn more in "Control the Flood of Data in the US Power Markets with ETRM Software.") Sudden swings in power prices impair forecasts and negatively impact bottom lines. Volatile transmission costs decrease profitability.
Energy markets have also undergone several waves of mergers and acquisitions over the last decade, which has led to an environment of duplicative trading systems at some companies. Dealing with these loosely interfaced systems straining under the burden of too much data and providing too little information further inhibits profitability. When researching energy trading and risk management software (ETRM), there are certain features that power companies and utilities should look for.
Some of the features to look for in ETRM software that supports power include:
Using ETRM software with these features enables traders, schedulers, and back office personnel to gain a real-time view of required information from original trade through to final destination.
Next-generation ETRM software provides these benefits to power companies and utilities:
"We had outgrown our in-house system that was used across multiple businesses. We needed a better way to manage trading and risk with complete accountability and accuracy in real-time across our gas and power operations. After evaluating all the leading vendors, it was clear that Eka provided all the advanced functionality to meet our needs, and was the fastest, least cost, and lowest risk to implement. In addition, the Eka team proved to be the easiest to work with; they are a true partner."
— Jim Brown, SVP Mid-Office, Just Energy
Unprecedented price volatility and complexity in transmission networks are key challenges faced by power companies and utilities. These organizations need a flexible, easy to use software platform for power trading and scheduling. Use Eka’s InSight CM - Power platform to manage the entire lifecycle of power scheduling and trading from transaction capture through confirmations, operations, risk management, credit, and settlement. Competitive advantage will be gained by companies that implement Eka’s best-of-breed, next-generation ETRM software solution, InSight CM - Power.
Eka understands the specific and unique requirements of traders, schedulers, and back office personnel working at energy companies and utilities. We know that efficiently managing volatile prices, complex transmission networks, evolving regulatory requirements, and the regional nature of power generation is critical to your success. Partner with Eka to improve operations, better manage risks and exposures, and make the most profitable scheduling decisions.
Eka’s visual analytics provide meaningful and actionable information for traders, risk managers, schedulers, and executives to view, analyze, and simulate key performance metrics. InSight CM - Power supports the complex scheduling of power with the ability to define delivery profiles by peak, off-peak, hour ending, etc. With real-time data, companies can make the most profitable scheduling decisions. Transaction data is automatically reflected in downstream processes. Real-time visualizations allow transparency across the energy lifecycle.