Industry: Medium Term
Large users of energy such as industrial companies need feasible concepts in order to ensure greater certainty when marketing their own futures. Frequently decisions on buying and selling are based on gut feeling or similar volumes of energy are bought or sold repeatedly due to a lack of alternatives. This can result in surpluses or shortfalls. In the worst case scenario expensive balancing power must be purchased. Therefore ProCom GmbH was instructed to create a software-based process in order to provide optimum support for marketing futures.
As an initial step towards a future automated futures market model, all data on products and time factors of the broker and the corresponding EEX requirements were collected on a platform.
Using a price forecast derived from the HPFC, the optimum combination of weekly and monthly products can now be determined in advance. Planned operation of power plants and the estimated consumption of electricity and steam are taken into account.
The results are integrated into day-ahead planning. The additional incorporation of monthly planning into the BoFiT optimization process brings the futures market closer to power plants and enables it to be balanced with the requirements of specific plants.
Today the company’s own futures marketing is based on price forecasts. Buying and selling monthly and weekly products is optimized and planned load following operation is taken into account.
BoFiT – since automation is a key step towards greater certainty when marketing futures.