Month: May 2023

Previse Systems announced today that Energetech Trading DMCC, headquartered in Dubai, a fast-expanding energy trading house active on European gas, power and emissions markets, has contracted Previse Systems to supply the firm’s new energy trading solution.

Founded in 2020, Energetech started operations with power and gas spot trading. As the company’s activities and geographical presence expanded, it quickly became evident that a flexible and modern ETRM software was required.

Having thoroughly tested Previse Coral in a Proof-of-Concept (PoC) in Q1 and Q2, Energetech was convinced that it was the right choice for them – an important driver for this decision was the modern technology stack, its scalability and flexibility to easily expand the solution via the App Framework.

Previse Coral will initially be deployed to manage Energetech’s short term UK power trading – which has almost completely been delivered already as part of the PoC. In subsequent steps, a swift expansion into other European power and gas markets is planned.

Lead Consult will contribute multiple interfaces, among them trade import connectors to Trayport, ETPA, Prisma and JAO.

Guido La Rosa , Middle Office Lead at Energetech, said: “We’re proud to partner with Previse Systems and their exceptional team, driving energy trading transformation. Their advanced system technology empowers effortless customization in shaping our post-execution trading activities. From complex task fulfilment to streamlined energy workflows, Previse Systems enhances efficiency and unlocks new market opportunities.”

Joel Bellot, Engineering Lead at Energetech, said: “Previse Systems’ SaaS solution impressed us with the use of modern serverless technology. Their support was fast, and the platform is highly extensible. With cutting-edge tech integrated, Previse Systems is the company to watch in the energy space.”

Asbjørn Hansen, CEO at Previse Systems, said: “We are very proud to welcome our first customer from the Middle East!

During the PoC, we have had the chance to collaborate intensively with Energetech’s team, and we are impressed by their diligence, their competence, and of course their … energy! 😊  – for example, Energetech have already developed their first own App to take care of a specific automation requirement! We are confident that our App Framework with provide robust tools for Energetech to drive real-time operations and decision making.

We look forward to support and facilitate Energetech’s growth journey into new energy markets.”

About Energetech

We operate across borders in an ever-changing market, continually thinking on our feet. By using smart technology, we can predict and act on market volatility in a way that challenges traditional energy trading practices, through forecasting opportunities and creating risk mitigating, robust, high value strategies.

The strategies and technology we deploy to make the best deals out there are deeply complex and require a stellar team, with expertise in a broad range of disciplines. Our employees make up the Energetech family, where the best talent from around the world come together to provide world-class energy trading. However, what binds us together is one very simple purpose: to reinvent the way energy flows through global markets. That’s why our greatest asset is our people.

Mobilizing the energy market is a responsibility we don’t take lightly. It’s our raison d’être. At Energetech, we’re committed to trading energy in a way that keeps energy supplies secure, affordable and carbon-efficient.

About Lead Consult

LEAD Consult is a dynamic, customer-oriented company, specialized in providing software solutions as well as business and IT consulting services in the energy and financial sectors. Our deep industry knowledge together with excellent skills in management consulting, technology and innovation allows us to challenge the conventional thinking and deliver exceptional results that have a lasting impact on businesses and companies worldwide.

For more information, visit https://www.leadconsult.eu/.

About Previse Systems

At Previse Systems, we fundamentally reshape the way Energy Trading and Risk Management (ETRM) software is designed, implemented and operated. We offer a highly performant SaaS solution for European electricity, natural gas and certificates trading – combining modern software architecture with the latest available tools and technology.

As a conceptual innovation, we build on the notion of “community”, with an infrastructure for energy companies to leverage synergies through collaboration in the IT domain. The goal of this is simple: better software, faster and at lower cost. We create software without any legacy burden. Our data structure follows accepted market standards, which drives easy and fast data migrations, and is also a core factor of strong system performance.

With Previse Systems, energy companies are well equipped to master the challenges of a fast-evolving environment.

Previse Systems announced today that Ørsted has selected Previse Systems as the supplier of its new Energy Trading Management (ETM) system.

Ørsted was looking for a cloud-based Software-as-a-Service (SaaS) solution – a highly standardized system to replace the core deal capture and deal lifecycle capabilities of the legacy on-premise ETRM solution. Ørsted was seeking an ETM solution with speedy time-to-market for standard products. It was key for Ørsted that the selected solution would be both lightweight and highly interoperable with Ørsted’s business and IT landscape.

As Ørsted’s new ETM solution, Previse Coral will be utilized for deal capture, deal-lifecycle workflow and back-office processes for gas and power trading supporting a high degree of automation. While power and gas are the primary traded commodities, Ørsted also intends to use the system for the hedging of various metals and fuels within Ørsted’s business.

The scope of the implementation of Previse Coral will cover Ørsted’s main trading activities in the United Kingdom, the Netherlands, Germany and Denmark, as well as in some adjacent markets. Besides standard instruments, the solution may be expanded to also cover PPA structures, swing contracts, storages and options.

In the delivery of Ørsted’s Future ETM, Previse Systems will collaborate closely with partners such as Lead Consult, who will supply several elements of the overall solution as Apps and also add expertise to the implementation team.

Asbjørn Hansen, Managing Director at Previse Systems, said:

“We are extremely excited to sign up one of the world’s most significant players in renewable energy! Bringing on yet another large energy trading company onto our platform underlines the strength of our product, our technology and our concepts, driven by the competence and dedication of our team and our partners.

We see Ørsted as a global leader in renewable energy. We believe that our expanding partnership will further strengthen our platform and our capabilities in the support of renewable power traders, as well as companies with complex cross-commodity portfolios.

We look forward to supporting Ørsted on their journey from their old on-premise legacy solution to a fully cloud-based and automated ETRM platform designed for the future.”

About Ørsted

The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Ørsted is recognised on the CDP Climate Change A List as a global leader on climate action and was the first energy company in the world to have its science-based net-zero emissions target validated by the Science Based Targets initiative (SBTi). Headquartered in Denmark, Ørsted employs approx. 8,000 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2022, the group’s revenue was DKK 132.3 billion (EUR 17.8 billion).

About Lead Consult

LEAD Consult is a dynamic, customer-oriented company, specialized in providing software solutions as well as business and IT consulting services in the energy and financial sectors. Our deep industry knowledge together with excellent skills in management consulting, technology and innovation allows us to challenge the conventional thinking and deliver exceptional results that have a lasting impact on businesses and companies worldwide.

For more information, visit https://www.leadconsult.eu/.

About Previse Systems

At Previse Systems, we fundamentally reshape the way Energy Trading and Risk Management (ETRM) software is designed, implemented and operated. We offer a highly performant SaaS solution for European electricity, natural gas and certificates trading – combining modern software architecture with the latest available tools and technology.

As a conceptual innovation, we build on the notion of “community”, with an infrastructure for energy companies to leverage synergies through collaboration in the IT domain. The goal of this is simple: better software, faster and at lower cost. We create software without any legacy burden. Our data structure follows accepted market standards, which drives easy and fast data migrations, and is also a core factor of strong system performance.

With Previse Systems, energy companies are well equipped to master the challenges of a fast-evolving environment.