Category: News

BOULDER, CO – 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).

Read the full press release.

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.

Media Contact
Gerard Laurain
VP, Marketing

(720) 234-2794

Glendora, California – Idaho Power Company (IPC), which has been a customer of the analytics and reporting capabilities of Power Settlements since 2018, recently expanded its use of the SettleCore™ software platform by implementing its Shadow Settlements, EIM Sub-Allocations, and Contract Billing modules. This enhanced functionality helps IPC automate, optimize, and manage its back-office and settlements functions for participation in the California ISO (CAISO) Western Energy Imbalance Market (WEIM). IPC’s use of SettleCore™ also encompasses settlements and invoicing of its WEIM transmission customers.

Jennifer Gerard, Operations Settlement Lead at IPC, conveyed the details around the expansion of the SettleCore™ footprint:

“Since IPC joined WEIM, we’ve been using SettleCore ™ for dispatch analysis, reporting, and other market analytics needs. There was a need to streamline existing analytics processes with our shadow settlement review, and to perform subsequent transmission customer invoicing – all within one system. Since the Power Settlements staff had proven to be knowledgeable on CAISO/WEIM market rules and provided us with a high level of user support, we recently added the WEIM Shadow Settlement, EIM Sub-Allocation, and Customer Invoicing modules to our existing SettleCore ™ application. We are using these modules to enhance our current processes and create efficiencies as we review and validate market data results.”

Jenny Gerard
Operations Settlement Lead at IPC

“IPC and Power Settlements have been working successfully together since they joined the Western EIM,” said PSCS Senior VP, Jason Hebert. We’re proud of the work we’ve accomplished together and are excited that our partnership is growing in ways that will help IPC prepare for the next stages of the WEIM or Southwest Power Pool’s (SPP) Markets+. In either case, SettleCore™ will seamlessly adapt and be ready to go.”

Idaho Power is headquartered in the vibrant and fast-growing city of Boise, and has been a locally operated energy company since 1916. Today, it serves a 24,000-square-mile area in Idaho and Oregon. The company’s goal to provide 100% clean energy by 2045 builds on its long history as a clean-energy leader that provides reliable service at affordable prices. With 17 low-cost hydroelectric projects at the core of its diverse energy mix, Idaho Power’s residential, business and agricultural customers pay among the nation’s lowest prices for electricity. Its 2,000 employees proudly serve more than 620,000 customers with a culture of safety first, integrity always and respect for all. IDACORP Inc. (NYSE: IDA), Idaho Power’s independent publicly traded parent company, is also headquartered in Boise, Idaho. To learn more, visit idahopower.com or idacorpinc.com.

Glendora, California – Eugene Water & Electric Board (EWEB) has selected the SettleCore™ software platform from Power Settlements (PSCS) to manage its market and transmission settlements, as well as shadow settlements in the California ISO (CAISO) Western Energy Imbalance Market (WEIM). Power Settlements is the leading provider of software solutions to CAISO and EIM market participants and was chosen by EWEB following a detailed evaluation of multiple vendors using a competitive RFP (request for proposal) process.

EWEB’s implementation of SettleCore™ (on the PSCS-hosted infrastructure) began in the fourth quarter of 2023 with a planned go-live in early 2024 and will meet EWEB’s business requirement for a single system to optimize settlements, analytics, and reporting in the CAISO market. Further, EWEB will leverage SettleCore™ to settle transactions and shadow CAISO market and transmission invoices from major participants in the WEIM, including the largest transmission provider in the Pacific Northwest.

Jason Hebert, Senior VP of Power Settlements noted,

“Adding EWEB to our growing list of clients in the West reinforces Power Settlements’ position as the leading supplier of software solutions for both CAISO WEIM and MRTU participants. SettleCore™ significantly helps WEIM players shadow the bilateral settlement invoices that they receive from the BA (Balancing Authority) since those settlement rules can be extraordinarily complex and accompanied by vast amounts of data. Having EWEB choose to work with our team to manage mission-critical workflows is very gratifying.”

About Eugene Water & Electric Board
The Eugene Water & Electric Board (EWEB) is Oregon’s largest customer-owned utility. Founded in 1911, EWEB provides water and electricity to approximately 96,000 customers in the Eugene-Springfield area. EWEB’s service area covers 236 square miles with a population of more than 200,000 people, including major institutions such as the University of Oregon. Employing approximately 500 people, EWEB serves the people of Eugene by embodying core values of safety, reliability, responsibility, and community. EWEB owns four energy generation facilities, including hydroelectric projects on the McKenzie and Clackamas Rivers, and leads watershed protection measures with local landowners and environmental organizations. With one of the greenest energy supplies in the nation, approximately 90% of EWEB’s power comes from carbon-free sources, and EWEB is committed to achieving a 95% carbon-free energy portfolio by 2030. To learn more, please visit our website.

Glendora, California – Arizona Electric Power Cooperative (AEPCO), a sub-BA area within the WAPA Desert Southwest Region, has selected the PowerCore software platform from Power Settlements (PSCS) to manage its market participation in the California ISO (CAISO) Western Energy Imbalance Market (WEIM). Power Settlements is the leading provider of software solutions to CAISO market participants and was chosen by AEPCO following a detailed evaluation. AEPCO licensed several components of PowerCore including, ISO Downloader, Visual Analytics, Shadow Settlements, and Settlement Analyzer.

AEPCO went live in the WEIM in April 2023 following three years of research, planning, and intensive preparation. After beginning WEIM operations, AEPCO recognized a gap in its existing software ecosystem that could be filled by PowerCore. AEPCO began implementing the system in the 3rd quarter of 2023, and within weeks, PowerCore was fully operational.

AEPCO Energy Services Administrator, Tara Davis, commented on the selection of Power Settlements, noting,

Power Settlements’ PowerCore technology is one-of-a-kind. We were at first overwhelmed with the amount of data used in the structured markets to determine and calculate charge codes, but PowerCore accelerated our position from novice to intermediate on day one. It delivers a level of trust and expertise that makes it ideal for any level of user right out-of-the-box. The Power Settlements staff were continually committed to AEPCO’s successful transition during our market implementation, and the firm offers a variety of tools to make anyone a power user.”

Tara Davis
AEPCO Energy Services Administrator

Jason Hebert, Senior Vice President of PSCS stated, “Adding AEPCO to our growing list of clients in the West reinforces Power Settlements’ position as the leading supplier of software solutions for both CAISO WEIM and MRTU participants. PowerCore significantly helps WEIM participants operate more efficiently by providing ISO data visualization in near real-time as well as in-depth Shadow Settlements and CAISO reporting. We really enjoy working with AEPCO’s staff and look forward to providing them superior software and customer support for years to come.”

About Arizona Electric Power Cooperative (AEPCO)
AEPCO is the not-for-profit generation and transmission cooperative providing wholesale power, transmission, and energy trading services to six member-owner distribution cooperatives, which serve about 420,000 consumers in Arizona, Southern California, and Western New Mexico. AEPCO also provides transmission and energy trading services to cooperatives, public power utilities, and water utilities in Arizona, Nevada, and Southern California. AEPCO operates in tandem with Sierra Southwest Cooperative Services in Benson, Arizona, under the umbrella “Arizona G&T Cooperatives”. AEPCO owns and operates the 625-megawatt Apache Generating Station. To learn more, please visit our website.