Stuttgart and Vienna – May 6, 2015 – OpenLink, the global leader in trading and risk management solutions to the energy, commodities, corporate, and financial services industries, today announced that the German transmission grid operator TransnetBW GmbH has selected IRM as its portfolio management solution.
IRM is TransnetBW GmbH's principal ETRM trading system. Its functions include the management of long-term hedges, trade volumes from the day-ahead hourly auction, and the newly introduced EPEX SPOT intraday auction. Trading positions can be recalculated cyclically on the basis of new incoming forecasts and then used as the foundation for trading activity on the intraday market.
The intraday market is strongly influenced by the generation of electricity from renewable energy sources. IRM provides support for operational processes in the form of fully automated intraday scheduling. In a fifteen-minute cycle, all executed trades are distributed across various TransnetBW balancing groups and the corresponding schedules are sent.
Marketing revenues from renewable energy are one component involved in the calculation of the amount of the EEG levy. IRM provides support when it comes to the resulting extremely stringent legal requirements for transparency in the form of extensive reporting.
Roland Jones, Managing Director of the IRM Division at OpenLink, adds: "Fully automated ETRM systems play a hugely significant role in the modern energy sector. New trading positions are made available immediately, with it no longer being possible to manually send nominations to the transmission grid operator. As well as automatically sending the nominations, IRM takes care of short-term portfolio management and reporting within all of the major markets for renewable energy in Germany, Austria and Switzerland, for example. We are delighted to be working with TransnetBW."
A transmission grid operator based in Stuttgart, TransnetBW provides a safe and reliable power supply to around 11 million people in Baden-Württemberg. Its core activities include operating, maintaining and planning the transmission grid, as well as expanding it in line with requirements, both now and into the future. TransnetBW's 220- and 380-kilovolt power circuits are approximately 3473 kilometres in length and its network extends over an area of 34,600 km2. This network is made available to all major players in the power market in a non-discriminatory manner and on transparent terms in line with market conditions.