Avista Corporation (“Avista”) has gone live in the Western Energy Imbalance Market (“EIM”) with the Power Settlements (“PSCS”) SettleCore system, including both Visual Analytics and ISO Settlements operations.
“Power Settlements has been an excellent business partner and has consistently gone above and beyond from a customer service standpoint. From timely communication, thoughtful collaboration, helpful training, friendly staff members and quick responses and resolutions, Power Settlements represents what a first-class vendor stands for. The SettleCore system provides a full suite solution that supports Avista’s real time operations insights, post market analysis, settlements shadow and validation, billing and invoicing, benefit calculation as well as any customization capabilities that are required. The SettleCore system is very intuitive to analytical minds showing the vendor focuses on anticipating end user needs. Avista could not be more pleased with our decision to choose Power Settlements and their solutions to support our Settlements and Analytics functions in the WEIM” said Xin Shane, the Manager of EIM Settlements, and James Dykes, the Manager of EIM Technology Operations Lead.
Power Settlements was selected by Avista through a competitive Request for Proposal (RFP) process for software to manage the WEIM integration for both EESC and PRSC back-office operations including Shadow Settlements and ISO Settlement Statement Validations, EIM Sub-Allocations, Contract Billing, Etag integration, and Reporting. Additionally, Avista procured Power Settlements’ Visual Analytics Module dashboard which provides a 360-degree view display of each of the customer’s unit and portfolio. The Visual Analytics Module includes both a near real-time view for real-time operations with built-in deviation analysis and PNL analysis functions, as well as post-analytics view the following morning.
Avista is also utilizing the SettleCore – ISO Downloader Module for downloading all of its CAISO data and reporting needs, the Etag Reporting Module for NAESB/NERC Etag integration and reporting, the Shadow Settlements Module for pre-settlement calculation and statement validations, the Settlements Analyzer Module for comparing any two Settlement statements to each other and drilling-down to the most granular billing determinants, and the EIM Sub-Allocations and Contract Billing Modules for billing and generating invoices to send to their transmission customers .
“We are pleased to have helped Avista with their successful market go-live with WEIM. Avista is a great partner, and we look forward to providing superior support to them for many years to come,” said David Dan, CEO of Power Settlements.
About Avista Corporation (Avista)
Avista Corporation is an electric and natural gas utility company. The Company’s segments include Avista Utilities and Alaska Electric Light and Power Company (AEL&P). Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho, and northeastern and southwestern Oregon. The segment also engages in wholesale purchases and sales of electricity and natural gas as an integral part of energy resource management and its load-serving obligation. The AEL&P segment is a regulated utility providing electric services in Juneau, Alaska. Its regional services include government and higher education, medical services, retail trade and finance. It also has other businesses, including venture fund investments, real estate investments, as well as certain other investments made by Avista Capital, which is a subsidiary of the Company.
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. The SettleCore Etag module is a fully compliant NAESB Tag Agent and Tag Approval service that supplies unparalleled access to Etag data. All of the SettleCore modules are fully integrated in a single system using the SQL Server database which provides for full auditability, traceability, and user security roles.