Power Settlements announces one of our largest projects to date.
The City of Pasadena (“Pasadena”), a publicly owned utility in Southern California that is within the CAISO balancing authority, has been a customer of Power Settlements since 2009, when they licensed a single SettleCore module.
In 2012, they performed a review of their various systems and issued an RFP with the goal of replacing multiple legacy systems with a single, completely integrated system for use by their front-office, mid-office, and back-office. After performing a thorough multi-month evaluation of some of the largest ETRM and ISO/RTO vendors in the United States, Pasadena selected SettleCore.
Pasadena required a fully integrated system that includes their power and natural gas purchases and sales with their bilateral counterparties, automates the upload of all of their bids and schedules in the CAISO market, automates the download of all of their CAISO data, automates their credit processes and enforces their bilateral counterparty credit limits and trader position limits, performs their bilateral counterparty settlements and shadow settlement of their CAISO charge codes, and includes their customized reporting requirements.
“Pasadena’s decision to implement the entire suite of SettleCore modules for their ETRM and their CAISO needs is a major win for both companies. Pasadena will realize their goal of a single solution for all of their bilateral and CAISO needs for front through back-office. They will realize the benefits of the rich functionality and reporting features that will streamline multiple processes, and they will benefit from our extreme focus on customer support. We look forward to working with Pasadena as a partner for many years to come,” said David Dan, CEO of Power Settlements.
More information about the City of Pasadena can be found at http://www.ci.pasadena.ca.us/waterandpower/