European Energy Goes Live on Previse Coral
Zug, 10. March 2021: Previse Systems announced today that the initial implementation of Previse Coral at European Energy A/S has been successfully completed.
Building on the ChorusLink Common Trade Repository, European Energy benefits from Previse Coral’s unique features supporting modern renewable energy markets to manage its portfolio of Power Purchase Agreements (PPA), electricity and certificate trades.
The scope of Previse Coral includes:
- Trade capture for PPAs, guarantees of origin (GoO) and power trades
- Automated market price import using a Connector App supplied by Lead Consult
- Market price management, including an Extrapolation App to extend market curves beyond their published validity
- A Price Formula Builder App to build custom price formulas for trade or market prices
- Position management, valuation and reporting – including calculation of mark to market (MtM), profit and loss, MtM over time etc., with reports visualization in embedded Microsoft Power BI
- A fully automated end-of-day process
About European Energy
Copenhagen-based European Energy constructs wind and solar farms to build solutions to climate change. European Energy has constructed more than 1.5 GW of renewable energy capacity since it was founded in 2004. European Energy is currently developing and constructing parks in Europe, Australia and America.
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.
Jonas Nihøj, Director of Energy Trading & PPA at European Energy, said:
“We are very impressed with the speed of implementation and the innovative solution provided.
Previse Coral has automated the management of our European power portfolio, guarantees of origin sales and PPAs (Power Purchase Agreements), where in many cases there is a very complex logic that needs to be controlled.
The system is a true enabler for us when servicing our clients with clean energy and thereby contributing to the Green Transition.”
Asbjørn Hansen, Managing Director at Previse Systems, said:
“It is great to have our first customer live on Previse Coral and see all of the hard work we have put into our software pay off. By providing European Energy with a fully automated end of day process with a daily recalculation of critical KPIs, we support the digitalization of their business and enable them to make better trading decisions.
Besides all that it is always a pleasure to work with the European Energy team and we are looking forward to continuing to add more functionality and help European Energy expand their activities into more countries and territories as part of their impressive growth journey.”
Norlys Energy Trading Selects Previse Systems as Partner for the Delivery of its Core ETRM Platform
Zug, 27. January 2021: Previse Systems announced today that Norlys Energy Trading has chosen Previse Systems as their partner for the delivery of its Core ETRM platform, which will be based on ChorusLink, Previse Coral and the Coral Ecosystem.
Norlys Energy Trading has been set up by its owners Norlys and Eurowind Energy to achieve significant market synergies between the production and consumption stages of the green value chain. The target is to become a European powerhouse in the field of renewable energy and commercial energy trade.
Norlys Energy Trading decided for Previse Systems to deliver an IT infrastructure that uses the latest available technology, while also proposing an optimal correlation of “buy” and “build”. This allows Norlys Energy Trading to focus its internal development capacities on building the competitive advantage.
Allan Kaufmann, Head of IT Development at Norlys Energy Trading, said:
“Key to successful operations in most companies is the right IT infrastructure. For us the right infrastructure are cloud-based platforms that offer extremely flexible capabilities to deliver the high degree of automation to support the substantial trading volumes that our business requires. As the heart of the system landscape, the ETRM platform must show strong performance, allow easy deployment and be based on an open architecture that enables us to leverage standards as well as engineer and deploy business-differentiated functionality using agile development methods.
After a detailed analysis of available options, we have concluded that the software platform proposed by Previse Systems (ChorusLink, Previse Coral and the Coral Ecosystem) was best suited to fulfil our requirements. An in-depth proof of concept delivered by Previse Systems fully confirmed this conclusion. Previse Systems has specifically shown the competence around the Green Value Chain that we require to support Norlys Energy Trading in being a leader in the green energy transition.
We are certain that our partnership with Previse Systems will be instrumental in securing a competitive advantage for Norlys Energy Trading.”
Asbjørn Hansen, Managing Director at Previse Systems, said:
“At Previse Systems, we are very excited to partner with an ambitious, determined and knowledgeable organization such as Norlys Energy Trading. We share similar views and experiences on growth and adaptability in a very fast-paced environment, and the necessity of modern IT architecture to support this. During the course of our proof of concept, we had the opportunity to work closely with the highly experienced team of Norlys Energy Trading, and we are convinced our collaboration will be prime example of a total that becomes much more than the sum of its parts. I look forward to working with Norlys Energy Trading, and to benefitting from their drive to ensure that our solutions are the best in the market.”
About Norlys Energy Trading
Norlys Energy Trading A/S was founded in May 2020 and owned by Norlys Holding A/S and Eurowind Energy A/S The company is based in the Northern part of Denmark in the city of Aalborg.
We are in the process of building a solid and automatized organisation with an efficient platform for energy trading and aim to streamline the handling of renewable energy in both Denmark and the rest of Europe.
We strive to become one of the top European players in electricity and gas trading and to be one of the frontrunners of the green energy transition.
As the energy sector is getting “greener”, more complex than ever, and new solutions emerge everywhere, we have chosen to be an active part of and significant contributor to a sustainable future.
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.
Plug & Play Connectivity from the enmacc Trading Platform to ChorusLink & Previse Coral
Zug, Munich and Frankfurt, 21. January 2021: Previse Systems, enmacc and Lead Consult have announced today the automatic integration of transactions executed on the enmacc Trading Platform to the ChorusLink Common Trade Repository and Previse Coral ETRM Solution via Lead Consult’s Universal Loader.
The trade import interface is a true “Plug & Play” solution, requiring minimum effort to deploy, operate and extend – new products, new commodities and new market areas can easily be added via an intuitive configuration screen.
Beyond the import of actual trades (either triggered automatically upon trade execution or in bulk at specified times), the interface offers interesting prospects of future functional extensions, e.g.:
- import incoming RFQs (Requests-For-Quote) into Previse Coral as simulated trades before quoting any prices, value imported tenders in Previse Coral, add a margin and send the price quote back to enmacc in an automated process
- automated update of credit limits from Coral to enmacc
Alexander Nikolov, Founder and CEO at Lead Consult, says: “This Plug & Play integration between enmacc, ChorusLink and Previse Coral is an important step forward to the full digitalisation of the energy trading and downstream processes.”
Volker Puck, Managing Director at enmacc, says: “Lead Consult has already supported plenty of our customers for an easy integration of enmacc into their software setup. With the ChorusLink and Previse Coral integration a new and innovative ETRM solution is now also connected with enmacc, providing a lot of automation opportunities and benefits to our mutual customers.”
Asbjørn Hansen, Managing Director at Previse Systems, says: “It is refreshing to collaborate with partners who also focus on high-performance modern technology stacks with clean interfaces and integration capabilities. Connecting enmacc to our solution landscape is another step for us to widen the offering for our customers and automate the trade life cycle.“
About ChorusLink
ChorusLink AG is a Swiss software company introducing a new paradigm for trade data storage and management in European energy markets.
ChorusLink sees its purpose in spearheading a change of paradigm for energy trading software. Thinking ongoing trends in energy markets and technology platforms one step further ChorusLink follows the vision of a common platform for energy trading data. This conceptual quantum leap facilitates process efficiencies, optimises investment returns on IT spending and fosters future infrastructure adaptability on an unprecedented level.
For more information, visit https://choruslink.ch/
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.
For more information, visit https://previsesystems.com/
About enmacc
enmacc is the next-generation energy trading platform, boosting liquidity in markets for power, gas and renewable certificates across Europe. We deliver efficiency, security and critical data to grow your business margin and execute optimal trading. enmacc is Europe’s fastest-growing digital OTC energy trading platform and digitises energy trading from end-to-end. Our mission is to create powerful energy markets for the world. Market participants gain speed, efficiency and security. All members of the enmacc network benefit from gaining more market opportunities and liquidity as well as new business potential. enmacc customers can use three trading screens: entender – the world-leading Request-For-Quote (RFQ) technology for energy markets; enmarket – the OTC price screen and open marketplace for one-click trading; and engreen – a state-of-the-art trading screen for Guarantees of Origin (GoOs). Complete documentation and complete, audit-proof archiving of all trading activities on the platform take place automatically. The real-time credit check guarantees trading and process security on all sides.
enmacc was founded in 2016, is based in Munich and has a team of more than 60 people working on the future of energy trading together with the enmacc network of more than 330 companies and over 1,600 active traders.
For more information, visit www.enmacc.com
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/
Eva Ollino joins Previse Systems as Product and Markets Specialist
Previse Systems is happy to announce that Eva Ollino has joined our team as Product and Markets Specialist.
Eva’s strong background in energy consulting and project management with energy companies across Europe strongly enhances Previse’s capabilities and bandwidth in customer delivery and product management.
Eva – a warm welcome to Previse Systems!
Q – Tell us about your role at Previse
A – I have been very lucky as my role in Previse was set up to fit my profile. I have previously worked as an IT project manager/analyst in a software development company and also in an energy utility, therefore I know what to expect when working in development company focused on the energy sector. As my last role was implementation consultant, I am used to working with customers and quite enjoy the challenges that different projects bring. Therefore, the role which allows me to work on both: product development and getting customers the solutions that they need, fits very well.
What distinguishes Previse as an employer? What incentivised you to join a start up?
For me Previse is all about people, people that share the same mindset. A result-oriented structure without bureaucracy, assigning responsibility without excessive control, expecting appropriate efforts to reach adequate targets, and above all with a good sense of humour!
What do you see as your main contributions to Previse’s success?
A pragmatic and structured approach to problem solving, a sense of duty and a flair for documenting customer requirements in a way that both future users and system developers have a common understanding of the functionality, so that not too many surprises occur during implementation.
Alex Suciu joins Previse Systems as Senior Developer
Previse Systems cordially welcomes our new Senior Developer Alex Suciu!
Combining a background in Computer Science with in-depth experience in European energy markets, Alex has the ideal profile to complement our dynamic software development team.
Alex – great to have you on the team!
What aspect of your new job are you looking forward to most?
I am excited by this opportunity to work within an innovative environment, building a new product from scratch using the latest technologies. This comes with challenging assignments, however the setting is great for a problem-solving mindset to find new solutions to the market’s most difficult obstacles. For me it is opportunity to be part of an exceptional team, to build a well-balanced enterprise solution by combining state-of-the-art technologies with profound levels of industry knowledge.
High system performance is a key element of Previse’s proposal – how can technology contribute here?
Technology has been evolving at lightning speed levels. As we have seen in the last few decades it has come from being a something helpful to becoming a fundamental part into almost every task we perform. Keeping pace with the latest technologies is a difficult challenge, but if done the right way, one can always be one step ahead of the market. The beautiful thing about technology nowadays is that is readily available to anyone. The power is within our hands and it is our responsibility to use it in the best possible way.
Previse introduces an innovative product to the market, addressing some of the existing issues in the energy sector with a new product using cutting-edge technologies. The solution is a sustainable platform, built with customisation in mind without sacrificing performance. A truly unique and future-proof system aligned with the fast-growing market!
What technology or development tool are you most excited about?
Cloud-based solutions have revolutionised the way we interact with our applications and data. Since the information is not limited to the main frame or a central location the possibilities become endless. Not long ago, a crashed computer or server could bring a company to its knees, reducing productivity across the board. There are a number of reasons to be excited about cloud technology. It redefines the concept of security of information where data is stored in a secure and stable environment, with downtimes becoming a memory of the past. It also provides elasticity where the resources automatically adapt to the workload, delivering power only when needed, while significantly reducing cost.
Basil Twisleton joins Previse Systems as Lead Developer
Previse Systems is excited to announce that Basil Twisleton joins our growing team as Lead Developer.
Basil strengthens our venture by adding his unique skillset of a deep understanding of modern software technology and architecture combined with many years’ experience in the energy trading software industry.
Basil – great to have you on board! Let’s talk a bit about your expectations towards your new role:
What do you see as your most interesting challenge as Previse’s lead developer?
Working for a new player in the market definitely brings some interesting challenges. For me the most fascinating one is the creation of a stable and scalable platform for business-critical enterprise operations. Previse has a refreshing mentality of “design right, build once”. This allows us to address both business and technical goals, ensuring the solutions are future-proof and will perform for a growing market.
How do you see technology drive the business case for Previse?
Technology changes are constantly affecting all businesses, not just those in the IT sector. Companies who do not keep up with current trends are quickly left behind. That is why Previse is focused on providing the technology expertise to build a managed platform that consistently provides access to state-of-the-art technology. We have an opportunity to bring the long-established business processes into the next generation with true distributed compute and storage solutions.
What sets Previse Systems apart from the technology perspective?
Previse is in the position to address the industry in a fresh way, building a modular and robust platform using the latest and most advanced technology from the ground up. We are planning and building without the common concerns of having to consider support for legacy systems. Our modular approach gives us the capacity to select the best technology for each specific situation, implementing performance and security at a granular level.
European Energy joins ChorusLink for Next Generation Trade Data Management
Zug, 16. October 2020: ChorusLink announced today that European Energy A/S has successfully migrated to the ChorusLink common trade repository.
Using ChorusLink will allow European Energy to:
- streamline the management of all transaction data from its trading operations
- lay a robust foundation for highly performant availability of trade data in a standardized format
- benefit from a centrally maintained repository of commonly used master data
- continuously increase back office automation as its counterparties also join ChorusLink
Jonas Nihøj, Director of Energy Trading & PPA at European Energy, said:
“The main reason for choosing ChorusLink and Previse Coral was to get the solution today which will be the market leader tomorrow, to ensure we have the scalability and performance we need.
As our current production portfolio of 3 TWh per year is set to grow tenfold over the next 5 years, we were faced with either scaling manual processes or investing for the future. We know that our needs today will be vastly different from tomorrow.
With the ChorusLink / Previse solution, we will be in a position to implement technological advancements on-the-go via the App Store, and we will have a competitive advantage in the years to come. Other aspects important to us are to retain ownership of our data and the possibility to easily change App providers, if required, with minimum efforts and costs.
Drawing on the experience of implementing several different ETRM systems, I know it is crucial to have the right partner for the journey and the Previse team have consistently delivered on time and budget. Therefore, I am confident that they will be an enabler for us in the years to come, when we embark on our ambitious growth journey.”
About European Energy
Copenhagen-based European Energy constructs wind and solar farms to build solutions to climate change. European Energy has constructed more than 1.5 GW of renewable energy capacity since it was founded in 2004. European Energy is currently developing and constructing parks in Europe, Australia and America.
About ChorusLink
ChorusLink AG is a Swiss software company introducing a new paradigm for trade data storage and management in European energy markets.
At ChorusLink, our purpose is to spearhead a change of paradigm for energy trading software. We think ongoing trends in energy markets and technology platforms one step further and follow the vision of a common platform for energy trading data. This conceptual quantum leap facilitates process efficiencies, optimises investment returns on IT spending and fosters future infrastructure adaptability on an unprecedented level.
A New Approach to Energy Trade Data Management
Zug, 14 October 2020. ChorusLink AG is excited to announce the formal launch of its business operations!
ChorusLink is a Swiss software company introducing a new paradigm for trade data storage and management in European energy markets.
At ChorusLink, our purpose is to spearhead a change of paradigm for energy trading software. We think ongoing trends in energy markets and technology platforms one step further and follow the vision of a common platform for energy trading data. This conceptual quantum leap facilitates process efficiencies, optimises investment returns on IT spending and fosters future infrastructure adaptability on an unprecedented level.
ChorusLink represents a new approach to recording, storing and managing energy trade data and related information – in a common trade repository. As the use of a shared repository allows each trade to be stored as a single data object, the relevant information is therefore mutually confirmed by definition. This simplifies settlement, auditing, regulatory reporting as well as the other steps in the lifecycle of a transaction necessitating mutual data verification.
Visit us on www.choruslink.ch to learn more!