Industry: Short Term
An international industrial group faced two major challenges. It wanted to optimize the current operations schedule for steam and electricity generation and automate its planning process. The intention was to identify and capitalize better on future market potential. A further objective was to comply automatically with growing regulatory requirements such as the quarter hourly balance group position squaring. The group asked ProCom GmbH to provide professional support for implementation of these projects.
ProCom experts were on site to analyze the whole process sequence for the group. First of all the BoFiT IT solution was implemented as the central planning tool. All relevant financial data and technical boundary conditions were collected and consolidated in BoFiT, thus creating a comprehensive technical and financial model of the portfolio.
Based on this model, mathematical methods running in the background optimize automatically the plant utilization planning for various planning intervals – daily and weekly planning and also intraday trading.
Furthermore, the central interfaces for market data and trading to EPEX, EEX (REMIT) and network operators (ERRP) were implemented. In addition, a link to the OsiSoft PI system was created using the company’s own BoFiT database connector and an automatic intraday process with an interface to the broker.
This project was supported by Project Management based on Prince2 with an agile framework. Following comprehensive staff training, the company is now fully familiarized with the new program.
Once implemented, BoFiT reliably recognizes all flexibilities, evaluates them immediately and facilitates optimum management in the relevant market channels (balancing energy, day ahead, intraday trading). The solution reduces the amount of daily planning needed and allows planning to be corrected and reviewed before the schedule is registered. This also means more flexibility with regard to possible changes in the plant portfolio, in demand structure or in regulatory requirements. Full automation reduces the error rate of planning.
BoFiT and ITA
Industry: Financial Planning
Industry: Trading & Decision Making
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