The daily Power Settlement process has never been an easy task: with unpredictable load forecasts, ISO/RTO data verification, ever changing market requirements and immature software applications. Today, that is changing. With the ISO and RTO markets maturing so have the systems to manage the daily shadow settlement business. Like the fast moving cell phone industry, the power shadow settlement industry has quickly evolved. If you are using older legacy applications or spreadsheets to manage your power business you should consider looking at the newer more affordable technologies that are offered.
Many clients have put a lot of time and effort to get a home-built or vendor system to do the basics. However, they do not have a system that gives them what they want. Today, software is more affordable than ever and pricing is flexible enough that one does not need to take on huge contractual risk to procure a solid settlement system. Today’s technologies are comprehensive, flexible and affordable enough to provide settlement professionals the functionality they want at a price they can afford.
Some important things that one should demand in a system are: an easy-to-use GUI interface, a reliable ISO/RTO data upload verification, and a visual Business Intelligence dashboard that allows one to see discrepancies in schedules versus plant output before they become penalties. Additionally, one should have reports that help them make better more informed decisions and software that is formula-driven with ISO/RTO charge codes embedded in the software for more accurate ISO/RTO shadow settlements.
Built by industry professionals, Power Settlements “SettleCore” scheduling and shadow settlement application is one such system. SettleCore offers small to large utilities, independent generators, marketers, and co-ops and municipalities robust formula-driven shadow settlement capability and more. SettleCore’s Business Intelligence dashboard leverages real-time functionality that not only show current generation output coupled with that ISO’s/RTO’s data, but also gives the front-office the ability to correct discrepancies before they become imbalance energy. Furthermore, Power Settlements offers daily ISO/RTO “Daily Processing Service” to ensure that the the data downloads are populating correctly on a daily basis. In addition, Power Settlements offers various reporting options, including a monthly bucket of Free Customization Hours to ensure the client gets what they require. Call us to today and schedule a time to see why we are quickly becoming one of the largest vendors in the ISO/RTO scheduling and shadow settlement space.
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. We have the second largest customer base of all shadow settlement software vendors in the CAISO market, and are in the midst of a major rollout of our SettleCore™ solution to customers in all of the ISOs/RTOs in the U.S. Our software solutions are in use at investor owned utilities, municipalities, independent generators, and hedge funds.
We offer a highly unique customer support model that is second to none in the industry, and includes: 100% managed solutions for either hosted or onsite deployed solutions, an included daily data loading verification service, and a Software Bug Fix Guarantee. All ISO/RTO market changes that affect existing functionality are always added to our software at no additional cost to our customers. Lastly, we encourage our customers to speak directly with our software developers.
Power Settlements was founded in 2007, and the SettleCore ISO/RTO solution was first deployed to customers beginning in 2009. Our company is staffed with business analysts and software developers that have experience in the deregulated power markets dating back to 1998. Power Settlements has offices in Claremont, CA and Houston, TX.