The Western Energy Imbalance Market (EIM), which launched in 2014, is a real-time energy market in the western United States. The EIM increases grid reliability,…
Salt River Project (“SRP”), an energy company in Arizona with a peak load of approximately 7,250 MW and over 2 million customers, successfully entered the Western EIM in April 2020. SRP recently implemented the Power Settlements’ SettleCore solution for historical and real-time profit and loss (“PNL”) analysis, ISO/EIM reporting, and the counter-factual EIM Benefit calculations.
Jim Petersen, Senior Principal Analyst, Market Strategies, and Analysis at SRP said the following about their implementation of SettleCore, “SRP recently licensed Power Settlements SettleCore CAISO ISO Downloader, CAISO Visual Analytics, and CAISO Settlements Analyzer modules. Those modules along with the daily download and verifications service have significantly enhanced SRP’s ability to quickly identify, explore, and subsequently resolve EIM related front and back-office issues. Specific features SRP has found to be of particularly high value to date include near real time reporting, visualization tools, customized business rules, EIM shadow benefits calculations, customization hours, and database access. Those features in conjunction with ease of use and exceptional customer support have resulted in a winning combination for SRP, helping us hit the ground running as a new CAISO EIM participant.”
The SettleCore – Visual Analytics Module is used to perform analysis of market dispatch, imbalance energy deviations, pricing, and PNL. The Visual Analytics module is a powerful dashboard and analytics tools which allows near real-time visibility into a market participant’s ISO or EIM activity. This empowers users to react to real-time operations and includes the following out-of-the-box EIM data points:
- Base schedules
- ISO real-time dispatches
- Internal meter data
- Imbalance energy deviations from dispatch
- Locational market prices (LMPs)
- Bid and offer curves
- Unit outages
- PNL 5-minute estimate
- Business Rules to detect both Operational and Market anomalies
More than 75% of the Western EIM market participants have implemented the SettleCore – Visual Analytics Module. This module continues to help companies increase operational and market efficiencies.
The SettleCore – Visual Analytics Modules may be used in all United States ISOs/RTOs/EIMs, including: CAISO, ERCOT, ISO-NE, MISO, NYISO, PJM, SPP, WEIS (SPP), and Western EIM (CAISO)
About Salt River Project Power and Water (SRP)
SRP has built a legacy by delivering water and power to the Phoenix metropolitan area for more than 100 years. Today, we are among the largest public power utilities in the nation and the Phoenix area’s largest supplier of raw water, serving more than 2 million businesses and residents in Central Arizona. SRP is committed to helping the Valley of the Sun grow and thrive for the next 100 years.
About the SettleCore System by Power Settlements
Power Settlements is a software company that specializes in providing software solutions to energy companies that participate in the ISO and RTO physical power markets. Our flagship product SettleCore® is a leading platform for participants in the ISO and RTO 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 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. The SettleCore Etag module is a fully compliant NAESB Tag Agent and Tag Approval service that supplies unparalleled access to Etag data. All of the SettleCore modules are fully integrated in a single system using the SQL Server database which provides for full auditability, traceability, and user security roles.