Post Go-Live Update: City of Redding Implemented the Bid-to-Bill PRSC EIM (Merchant) Functionality in the Power Settlements SettleCore Solution
Glendora, California – The City of Redding (“REU”) successfully implemented the Power Settlements (“PSCS”) comprehensive suite of front-office products, including SettleCore ISO Bidding, ISO Scheduling, Trade Capture, Etagging and Delivery/Position Management modules, and Visual Analytics and back-office Settlements modules, in the CAISO’s Western EIM on March 25, 2021. In the Western Energy Imbalance Market (“EIM”), REU utilizes SettleCore for their PRSC (merchant) bidding and scheduling submittals, analytics, and settlement functions. REU’s decision to select the PSCS SettleCore system created a significant benefit by enabling a fully integrated software solution to perform their bilateral, ISO, and EIM energy management and scheduling functions.
As demonstrated with REU’s fully integrated front-office modules, the SettleCore Delivery/Position Management Module is the solution to pair with the SettleCore Trade Capture and SettleCore Etagging Modules. Delivery management allows REU to visualize, analyze, and manage Etag and Trade capture data, as well as balance ISO Base Schedules. Delivery Management enables the user to aggregate all outputs and inputs with ISOs for scheduling and balancing including base schedules, meters, demand forecasts, and interchange data in a single graphical interface. This out-of-the-box module provides a visual dashboard for the user to perform portfolio-level and counterparty position management with ease…drag-and-drop fields to build custom graphs and use built-in filters for graphing only the desired data points.
REU began using the SettleCore solution in 2020 beginning with their ISO MRTU activity and then added the EIM functionality in 2021. The Power Settlements solution deployed by REU includes:
- Deal Management, Balancing, Interchange Management (SettleCore Trade Capture Module and Delivery Management Module)
- ISO Bidding and ISO Scheduling (SettleCore Bidding Module and Scheduling Module); including the submission to the CAISO BSAP and SIBR systems
- Full e-Tag creation/submission integrated with trading/scheduling (SettleCore E-Tag Module)”
Meter Data Submissions (SettleCore Meter Module) - Unit Performance and Profit and Loss Analytics (SettleCore Visual Analytics Module)
- ISO Settlements, Shadow Settlements, Statement Allocations, and ISO reporting (SettleCore ISO Downloader Module, Settlements Analyzer Module, Shadow Settlements Module, and Allocations Module)
Kyle Hastings, Electric Utility Senior System Operator at City of Redding, said the following about the benefits provided to City of Redding by the SettleCore system: “We have been using Power Settlements for almost a year and are continuing to utilize and optimize their full suite of software (Scheduling, Bidding, Trade Capture, Etag, Settlements, Shadow, Meter, and Visual Analytics) and are excited with how much we can do! We are able to customize reports and layouts to suit our needs. They have had excellent customer service and are always very quick to respond to any issues that come up real-time. We have been very happy with the bid-to-bill software and in particular with Visual Analytics and its ability to organize and display large amounts of data in a way that can be processed quickly. As a smaller utility, they have definitely made us feel just as important as any other customer. With their customer service and array of software products, we know we’ll be able to accommodate any new changes that come our way.”
David Dan, the CEO of Power Settlements, had this to say regarding REU’s 4-month check-in after going live in the EIM, “Many of the CAISO and EIM customers utilize our Visual Analytics and our ISO Settlements and Shadow Settlements modules. While we have multiple bidding and scheduling customers in the CAISO MRTU markets, we are very pleased that the City of Redding is our first customer to go-live with the PRSC EIM (Merchant) bidding and scheduling functionality. They are an incredibly valuable customer and we look forward to providing superior support to them for many years to come.”
About the City of Redding (REU)
As the largest California city north of Sacramento, the City of Redding is the regional hub for retail, education, professional services, career opportunities, corporate and private business development, medical facilities, and government. The City of Redding is focused on providing a high quality of life for its citizens, remembering that families and neighborhoods are the centerpiece of our lives. The city supports programs that connect its unique natural beauty and rich history.
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 the analysis of ISO dispatch and automatic flagging of events to avoid costs and highlight trading opportunities. Visual Analytics displays data in both a 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