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,…
Wellhead Electric, an energy company with generation in the CAISO market, has implemented the Power Settlements solution for their front-office analytics and their back-office settlements and reporting.
The Power Settlements SettleCore solution for the CAISO market includes the ability to automatically download all CAISO data sources (including ADS, CMRI, OASIS, OMS, Master File, MRI Settlements, SIBR, etc.) screens to view the data, and a Create-a-Report screen to extract 100% of CAISO data sources to MS Excel for a range of dates. The Shadow Settlement module enables more than 150 charge codes to be shadow estimated and validated. The Settlements Analyzer Module is used to compare any two Settlement files to each other (CAISO or Shadow), automatically flags variances and potential disputes, and includes an unparalleled drill-down feature for analyzing billing determinants. The Visual Analytics module has both an historical and a Real-Time screen for viewing all of the components of a company’s generator dispatch and PNL.
“We selected Power Settlements because they were the most responsive and informed group that we spoke to in our initial software screening. In implementation they have continued to display that level of expertise. Power settlements provides enough of a quantitative difference in processing capability, as to arrive at a qualitatively different staff experience. It’s the difference between a trader spending 4 hours analyzing a single day’s settlement in .XLS, and spending 5 minutes confirming an outcome in full color charts via Visual Analytics. It’s the difference between IT spending an hour a day making sure data gets downloaded, and simply logging in to review your already downloaded data. It’s the difference between having your accounting department spend 10 hours correlating CAISO reports to compare to a CAISO statement, and just clicking one button to receive that spreadsheet. In other words, it’s the difference between making a profit, and spending that profit on the time it takes trying to figure out if you did.
Of course, there are other products out there, but when you consider the staff, the customization capability, and the modern platform that Power Settlements provides, you can’t beat the value for the price”, said Justin Bosserman, Project Manager, Wellhead Electric.
“Wellhead Electric is a fantastic customer. They utilize several of the SettleCore back-office modules for processing their CAISO data, settlements, and detailed reporting. Their front-office relies on the Visual Analytics Module for historical and real-time analysis of the performance of their generation and PNL in the ISO markets. Wellhead Electric has been a great customer and we look forward to supporting them for many years to come”, said David Dan, CEO of Power Settlements.
About Wellhead Electric Company
Wellhead is a developer, owner and operator of small and medium scale power generation projects. Since 1982, Wellhead has been involved in the development, construction and/or operation of twenty facilities including four combined heat and power (CHP), one landfill gas generation facility, and one solar PV facility. Wellhead and its related companies currently own and/or operate eleven projects totaling approximately 418 MW with an additional 828 MW in advanced stages of development. See the Business Areas tab for more information about third party EPC services and Hybrid EGT installation.
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. All of the SettleCore modules are fully integrated in a single system built in Microsoft .Net, using the SQL Server database which provides for full auditability, traceability, and user security roles.