Avista Corporation
Yes Energy Acquires Power Settlements, Provider of the Leading Bid-to-Bill Platform for Power Market Participants
Boulder, Colorado – Yes Energy, a leader in power markets data, today announced the acquisition of Power Settlements. The combination of Power Settlements and Yes Energy will add value for physical power asset owners and operators by providing near real-time performance tracking and portfolio analysis tools alongside comprehensive Independent System Operator (ISO) market data and analysis tools. The addition of a bid-to-bill software system will provide power market participants an end-to-end solution, streamlining the data analysis, trade submission and portfolio analysis workflows for physical power transactions, primarily in Western markets (CAISO, WEIM, as well as MISO).
Michael McNair, CEO of Yes Energy commented:
“The Power Settlements acquisition will enable us to help our existing customers with a broader set of the functionality needed for day-to-day participation in the power markets, as well as support a rapidly growing number of market participants. Providing a comprehensive workflow solution to our customers requires supporting all types of market participant ISO and bilateral transactions. We can make this possible by combining Yes Energy’s robust data, analytics and forecast offerings with Power Settlements’ comprehensive market transaction services. Together, we can ensure customers have the right tools to optimize their physical and financial portfolios. Transactions are arguably the most important part of the workflow in the complex nodal markets, and working together, we believe we can provide an exceptional and reliable service for all RTOs.”
Michael McNair
CEO of Yes Energy
Founded in 2007, Power Settlements develops and refines software that streamlines and automates energy supply operations, enhances user experience and productivity, and delivers high ROI and bottom-line results to maximize enterprise success. Power Settlements strategically partners with power market participants to deliver the tools and insights required to improve and achieve a renewable, resilient energy future.
“Yes Energy has traditionally supported analytics and portfolio management services for the financial side of our customers’ books, i.e. virtual and FTR transactions. The Power Settlements team brings extensive market expertise and valuable solutions that will enable us to better serve our customers’ physical transactions as well,” added McNair. “Additionally, Power Settlements’ deep commitment to customer service aligns well with Yes Energy’s commitment to help our customers Win the Day Ahead™. We have completed several acquisitions lately, but one thing they all have in common is that they are all customer-first organizations.”
David Dan, President of Power Settlements added:
“Our deeply experienced team of business analysts, software developers and project managers has always been committed to the accuracy, reliability and ease of use with our solutions. We are proud to be joining the Yes Energy team, which is equally committed to those values as we look for new opportunities to serve participants in deregulated power markets.”
About Power Settlements
Power Settlements provides software solutions to energy companies that participate in organized wholesale power markets. Power Settlements’ SettleCore™ system is a leading bid-to-bill system that incorporates robust functionality for bidding, scheduling, ISO data downloading, shadow settlements, reporting, and visual analytics. SettleCore™ is in use at investor-owned utilities, municipalities, cooperatives, independent power producers, community choice aggregators, and hedge funds. Power Settlement’s staff is comprised of business analysts and software developers who have deep experience in deregulated power markets. For more information, visit powersettlements.com.
About Yes Energy
Yes Energy is a leader in power market data and provides innovative solutions to help traders, power companies, utilities and asset developers make sense of the complex, rapidly changing power market. Yes Energy provides robust, accurate and timely data, and comprehensive tools to help customers navigate the markets and make the right decisions every day. It’s time to Win the Day Ahead™ and only Yes Energy provides customers with the unique combination of better data, better delivery, and better direction needed to do that. Learn more at yesenergy.com.
Wellhead Electric
“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.”
Justin Bosserman
Project Manager
Wellhead Electric
Turlock Irrigation District
“TID is extremely satisfied with the level of customer service Power Settlements provides. From the timely and attentive communication, helpful training, and friendly employees, they have exceeded our expectations. The PowerCore product is an essential tool to disseminate a large amount of data in a timely manner. Visual Analytics provides so many snapshots of real-time data and is tremendously helpful to see how units are performing in real-time in the CAISO market. The ease of highlighting variances in the settlement statements utilizing Energy-Core’s shadow settlements has streamlined our settlement process. Additionally, we have also enjoyed the ability to easily export data to Excel to be able to further review the data.”
Amanda Alberti
Utility Analyst
Turlock Irrigation District
Terra-Gen
“Power Settlements was the clear choice to provide us with comprehensive bid-to-bill functionality that could handle our complex renewable bidding and settlements requirements for the CAISO market. They worked closely with us throughout the implementation process to meet all our specific requirements, and the Terra-Gen team has already derived significant benefits in multiple areas. The PowerCore modules we licensed have helped us more quickly bid, analyze, optimize, and report on the performance of our renewable and hybrid fleet, significantly enhancing our CAISO market participation and, ultimately, the more efficient delivery of clean energy to customers.”
Ryan Miller
Manager of Scheduling
Terra-Gen
San Francisco PUC
“We were impressed with Power Settlements’ single solution software that supports straight-thru-processing of our energy trading and scheduling, credit and risk management, and ISO activity. We were looking for an established vendor with a solution to meet our current needs and accommodate our future growth and Power Settlements’ large customer base and extensive knowledge of the CAISO market were key factors in our vendor selection decision. We are thrilled that Power Settlements implemented the PowerCore solution on time and on budget. Now that we are in production, we are very pleased with the high level of support and attention that their staff provides.”
Data Systems Manager
San Francisco Public Utilities Commission
Salt River Project
“SRP recently licensed Power Settlements’ PowerCore 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 PowerCore’s 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.”