Avista Corporation (“Avista”) has gone live in the Western Energy Imbalance Market (“EIM”) with the Power Settlements (“PSCS”) SettleCore system, including both Visual Analytics and…
Power Settlements is pleased to announce the release of the SettleCore – PPA Settlement System. This is a standalone solution for automating the bilateral settlement and invoicing of all power purchase agreements (“PPAs”), tolling agreements, and all contract settlements.
The PPA Settlement System is used for processing the most complex power contacts in a system that enforces user-security roles, traceability, auditability, and versioning. It’s fast and it saves users time (no more creating monthly spreadsheets) and provides our customers with significant savings by using a system that is scalable and can handle large numbers of contracts and counterparties. The PPA Settlement System is easy to use and features built-in pivot tables and the ability to view all supporting data and calculation results at the most granular level to support full transparency of all calculation results. The PPA Settlement System enables all contract reference data to be effective dated and includes monthly and annual rolling totals to enforce all components of a PPA or contract. Multiple invoice cycles are supported to allow for initial invoices and multiple true-ups. Users are able to perform data overrides and invoice adjustments. All invoices and supporting data can be exported into the existing invoice templates per counterparty, ensuring that there are no changes required by your counterparties when you implement the SettleCore – PPA Settlement System.
Some of the features and benefits of the SettleCore – PPA Settlement System include:
- Saves users time. Saves your company money.
- It’s easy to use. It’s fast.
- Handles the most complex PPAs.
- Supports all resource types, including: solar, community solar gardens, wind, distributed generation, demand response, thermal, hydro, nuclear, etc.
- Integration interfaces and templates for easily importing data into the system.
- Transparency into the calculations and supporting data.
- Approve or reject invoices.
- Create invoices and supporting data in any format per counterparty.
- Your auditors prefer it. All data is versioned with user names and timestamps.
- 100% vendor supported and maintained. Reduces IT costs.
- No changes required by your counterparties. Counterparty-specific invoice formats and supporting details.
David Dan, CEO of Power Settlements, commented on the release of the SettleCore – PPA Settlement System, “Most power companies use spreadsheets to settle their complex bilateral agreements that may be tens of millions, hundreds of millions, or billions of dollars annually. They do so because of the flexibility of spreadsheets that allow for complex calculations that are easy to adjust. However, large numbers of PPAs and contracts across multiple counterparties requires a lot of manual intervention and time by users. Now there is a simple solution that includes the flexibility of spreadsheets while enforcing process controls in a framework that is scalable and provides a significant cost savings to customers by automating otherwise manual processes, saves users time through automation, all while having no impact on data formats and counterparties. The solution is the SettleCore – PPA Settlement System, which is easy to implement, can be deployed onsite or hosted, and is 100% vendor managed by Power Settlements.”
For more information on the SettleCore – PPA Settlement system, please visit our PPA Settlement System webpage at http://powersettlements.com/settlecore-ppa-invoicing/
About the Power Settlements SettleCore Solution
SettleCore is a leading platform for participants in the wholesale power markets. The SettleCore ISO/RTO modules enable full bid-to-bill functionality from bid submission through data downloading, reporting, and shadow settlements and settlement statement validation in the ISO markets. The SettleCore Visual Analytics Module is the leading visual dashboard for analysis of ISO dispatch and automatic flagging of events to avoid costs and highlight trading opportunities. Visual Analytics displays data in both an historical screen as well as an on-demand real-time screen. The SettleCore PPA Settlement system automates the settlement and invoicing of all bilateral power PPAs, tolling agreements, and contracts through an easy-to-use system with a framework that instills process controls, user-security, and timestamps while preserving the flexibility of data overrides and invoice adjustments. The SettleCore ETRM system includes a very robust, modular and fully integrated Energy Trading and Risk Management system, which includes power and natural gas deal entry for transactions in ISOs as well as bilateral transactions outside ISOs, settlements and invoicing, mark-to-market, the enforcement of counterparty credit and trader limits and risk management analytics. All of the SettleCore modules are fully integrated in a single system built in Microsoft .Net, using the SQL Server database that provides for full auditability, traceability, and user security roles.