City of Riverside Implements SettleCore for Front-Office
Power Settlements Consulting and Software, a premier provider of software applications for companies that transact in ISO/RTO markets, is pleased to announce that the City of Riverside has implemented the SettleCore™ “Deal Capture Module” and “Scheduling Module”.
David Dan, principal of Power Settlements noted, “The City of Riverside has been a tremendous customer of ours. Since our SettleCore application was implemented for their back-office users last year, they have benefited from our feature-rich software which has helped to simplify their processes for reviewing and validating their large quantity of CAISO data. Power Settlements is pleased to deploy the new SettleCore functionality to assist their traders and schedulers, both on time and on budget.”
In January 2009, the City of Riverside licensed the SettleCore – CAISO application in preparation for the CAISO’s MRTU market redesign. Originally, the City of Riverside utilized SettleCore for only back-office use, including: to automate the downloading of their CAISO portal data, calculate shadow settlements, identify potential settlement disputes, drill-down into shadow and CAISO settlement data, perform settlement charge code allocations to the cost-causing resources, and to utilize the built-in reporting for extracting data and generating in-depth analysis reports.
Then, after several months of use of the SettleCore application by their back-office analysts, the City of Riverside approached Power Settlements about adding front-office functionality to the SettleCore application.
“We were very impressed with the superior functionality of the SettleCore application and the incredible customer service provided by Power Settlements. We wanted our front-office users to benefit from the SettleCore application as well. We realized that a single, completely integrated application for all of our front-office and back-office users would result in a material time and cost savings for our organization,” said Jesus Martinez, Principal Resource Analyst, Market Operations.
The SettleCore Deal Capture Module is used to enter all of a customer’s transactions for gas and power, including all energy, ancillary services, transmission, bilateral trades, and non-ISO transactions. The SettleCore Scheduling Module is used to aggregate the self-schedules and inter-SC trades, and to enter energy and ancillary service bids. The customer’s scheduling data is then automatically submitted to the CAISO’s scheduling API, and any CAISO messages are displayed to the users.
After discussing the customizations requested by the City of Riverside, just a few months later, Power Settlements rolled out the SettleCore Deal Capture Module and the Scheduling Module to the City of Riverside, where the City of Riverside thoroughly tested the new SettleCore modules in a parallel testing environment.
After a successful parallel test, the new modules were deployed to the City of Riverside’s production SettleCore environment on July 1, 2010.
“We now have a single application that is used by our organization for transacting with the CAISO and our counterparties – from entering the deals to scheduling, downloading CAISO data, calculating shadow settlements, reporting, and counterparty settlement. Since the production rollout of the SettleCore deal capture and scheduling functionality several months ago, our traders and schedulers are extremely pleased,” said Daniel E. Garcia, Resources Manager, Market Operations.
More information about the City of Riverside can be found at http://www.riversideca.gov/utilities/electric.asp
More information about Power Settlements Consulting and Software can be found at www.powersettlements.com