PROBLEM

Market participants must make offers into the market to reflect their capabilities. They must also react to changes and quickly re-offer. The are strict rules that govern these offers and making an invalid offer results in an investigation and possible fine.

The offers have multiple tranches with different prices and the traders need to be able to change both the quantity and the prices of the offers. Some of this process requires trader input and decision making but many changes can be made automatically, for example when an outage occurs.

SOLUTION

ELMO automates to offer process:

• Offers are modified in a graph or grid view of the data.
• Traders submit offers into the market. The offer types are generation energy, generation reserve, load bids, interruptible load bids and frequency keeping offers.
• Elmo checks that the offer meets the market rules.
• Submitted offers are monitored to confirm that they are accepted.
• The market is monitored to show traders where the Elmo offer does not match their view of the offer.
• Station availability data can be retrieved from a database and used to modify offers.
• Offers can be retrieved from a database and
  • The trader can be notified about any new offers, or
  • The offer can be submitted to the market automatically.
• Additional information can be retrieved from a database and displayed.
• An email of the changes can be sent when there is a new offer submitted.

RESULTS

Using Elmo makes the offering process simpler and more accurate for the traders. It also removes many mundane tasks allowing the trader to focus on more important tasks.

Elmo can also allow trading to continue unattended, automatically offering when there are forced outages and new data. This removes the requirement for traders to be working 24/7.