Happy to announce that we have completed the first release of Power Market Operations and with that v1.0 is available.
Power Market Operations has been built as a co-creation project with two partners within the Norwegian Hydro Power Production space. Customers can now apply DataOps to their Operational process for market analysis and market participation. With this release, the product has been made available for other Trading Entities operating in the physical Power Markets.
Facing uncertainty around development of both market mechanisms and price drivers, we believe Power Traders will benefit from systems that provide a high degree of speed and automation as well as a flexible and agile way of being able to change both processes and models to ensure that opportunities can be captured as and when they occur.
v1.0 of Power Market Operations enables you to:
Fully automate the Day Ahead auction participation process from pre-trade analysis to optimization and matrix generation.
Automatically generate both partial auction matrices and total auction matrices based on optimization results through a multi-scenario approach.
Detailed view of price scenarios provide quality assurance of output.
Run several auction matrix generation methods in parallel and benchmark the different methods against each other, the theoretical best and the submitted method.
Re-run the whole process upon the event of changes in input data with optimized duration.
Export functionality in the UI and through API.
Monitor process runs and dig into details through Cognite Data Fusion.
Let us know what your thoughts are.
The team will carry on developing new features and are now focusing their time expanding the product to other physical power markets. Future releases will be communicated here.