Nexus Energía selects Previse Systems’ ETRM Solution
Previse Systems is pleased to announce that Nexus Energía, a key player in the Spanish renewable energy market, has selected Previse Coral as their new ETRM platform.
With an impressive track record of building a successful trading operation, Nexus Energía needed a robust IT infrastructure to support the future growth envisioned, and also support its ambitions in the area of trading renewable energy. After a thorough look at the ETRM market, Nexus Energía’s saw its requirements and expectations fulfilled by the Previse Coral platform – and subsequently validated this in an in-depth Proof of Concept.
The main decision factors in favour of Previse Systems included the capability to implement easily and fast, the fast time to market for future areas of expansion, as well as the market understanding and competence of the vendor.
Previse Coral will be deployed at Nexus Energía to manage trading operations in European Union Allowances (EUAs), Power (incl. PPAs), Natural Gas and Guarantees of Origin (GoOs).
“During the intensive collaboration with the Previse Systems team during the Proof of Concept, we were convinced both by the software’s functional scope and coverage as well as the advantages that the applied technology stack offers,” said César Rodríguez Llorca, corporate director of energy management at Nexus Energía, “we are confident that this is the right solution for Nexus Energía to drive future growth, with the ability to adapt and expand the system fast and efficiently.”
“We are thrilled that Nexus Energía has chosen Previse Systems to deliver its new ETRM solution,” said Asbjørn Hansen, CEO of Previse Systems, “we see this as a further validation of our concepts and the importance of the innovations our modern technology stack brings to the ETRM industry. Also, our first Spanish customer is an important milestone for us, and we are looking forward to reconnecting with our network in Spain and to expanding the Previse Systems footprint on the Iberian Peninsula.”
The scope of the implementation includes price import interfaces from EEX, ICE, OMIP and MEFF, as well as a Trayport trade import interface by Previse Systems’ partner LEAD Consult.
Minsait, a leading consulting and system integration company in the energy and utilities sector, will provide project management support to Nexus Energía.
About Nexus Energía
Nexus Energía is a leading group in the commercialization of electricity and natural gas, representing producers in the market with international presence in Portugal and Mexico. Founded in 2000 by a dozen local companies from all over Spain with a long tradition in electricity distribution, the company supplies electricity and natural gas to more than 21,000 business supply points and more than 39,100 domestic supply points. With a team of more than 200 employees, Grupo Nexus Energía manages 16 TWh and had a turnover of more than 2,000 million euros in the last financial year.
The company was a pioneer in promoting green energy and today is a leader in the representation of renewable energy producers, with more than 18,100 plants represented. The company is committed to promoting energy sustainability and involving its customers in the change towards a new energy model, promoting the consumption of renewable energies and self-consumption. Grupo Nexus Energía works to bring energy to people and companies easily and empower them to make a conscious and efficient consumption.
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.
Energie Wasser Bern selects Previse Systems’ ETRM platform
Energie Wasser Bern (“ewb”), the city utility of the Swiss capital Bern, has chosen the Previse Coral ETRM platform to support its ambitions in the field of energy trading!
Faced by the profound change the energy sector has been undergoing for years, ewb recognised the central role played by technology in exploiting opportunities and managing risks. When embarking on the process to select a new core ETRM solution, the main aim was to put a tool in place that would allow to flexibly adapt to constantly changing market conditions and related requirements arising from the business. High standards of performance, IT security and user-friendliness were expected to be met, and equally easy integration into the existing energy trading system landscape.
As a result of a thorough evaluation, ewb established that Previse Coral performed significantly better than other products with regards to functional and technical system criteria, as well as capabilities of adaptation to current requirements as well as co-development in areas important to ewb. Also, the software was convincing in terms of user-friendliness.
Previse Coral will be deployed at ewb to comprehensively manage trading operations in electricity, natural gas, renewables and CO2 emissions. The scope of the implementation includes contributions by Previse Systems’ partners: e·Flow, the nomination and scheduling tool e·Opt Solutions, multiple interfaces delivered by Lead Consult and an automatic balancing App from Sparkspire.
”With Previse Coral, we see great potential to improve our processes in energy trading and portfolio management”, said Marc Maurer, application manager at ewb. “We are convinced that it is the modern software architecture and openness of the platform will greatly contribute to making our system landscape future-proof .”
“At Previse Systems, we are very excited about having been chosen by Energie Wasser Bern”, Marc Zumstein, head of sales at Previse Systems, said.
“It underlines the advantages our technology offers in today’s energy trading – adaptability and performance, together with easy connectivity and a high degree of intuitive usability. We are equally thrilled about welcoming our first customer in Switzerland, our “home” jurisdiction.
We look forward to the collaboration and a successful long-term partnership to support the continuing success of ewb!”
About Energie Wasser Bern
Energie Wasser Bern is the electricity, water, natural gas, waste recycling and heat supply company of the city of Bern in Switzerland. The activities of ewb mainly include the areas of electricity supply, water supply, natural gas supply, district heating supply, offers in the field of mobility (driving with natural gas and electromobility), the construction of the Bern fiber optic network and waste recycling.
As an electricity supplier, ewb supplies 70’000 private households in the city of Bern as well as 8’000 small and medium-sized companies and 100 large customers in the area of Bern with a total of about 1’000 GWh of electricity per year. Of a total of about 1’500 GWh of electricity generation from own assets and attributed from co-owned assets, 60% originate from renewable sources.
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.
ane.energy selects Previse Systems’ ETRM platform
The energy trading company ane.energy, based in northern Germany, has chosen the Previse Coral ETRM platform as the core application to support trading activities and ensure robust infrastructure scalability for future growth.
ane.energy – the only direct marketer of German wind power entirely owned by electricity producers – is renowned for its out-of-the-box thinking, innovative product ideas and high affinity for efficient digitalisation.
Previse Coral will be initially deployed to comprehensively manage ane.energy’s portfolio of long-term power purchase agreement (PPAs). In a next step, the plan is also to migrate short-term power trading as well as the guarantees of origin (GoO) portfolio into the system.
ane.energy sees the open App Framework / SDK as an important differentiator that will facilitate the swift deployment of proprietary functional elements – in a first step, it is planned to adjust existing interfaces as connectors to Previse Coral in the form of Apps.
”The last two years we have seen a rapidly growing demand of our green long and mid-term PPAs, both physical and financial, in the market”, said Ralf Höper, managing director at ane.energy. “Hence, we decided to establish an ETRM system that fulfils our ambitious needs in managing the embedded risks and gain additional portfolio value from actively optimising the dynamic hedging-positions.
We are confident that the Previse Coral tech stack in combination with the flexible infrastructure is the best fundament to support our future activities.”
“I am very proud of another innovative and technology-driven company with a strong focus on renewable energy choosing Previse Systems”, Asbjørn Hansen, Managing Director at Previse Systems, said.
“The ane.energy team has an agile and dynamic mindset very similar to our own, and I am sure our partnership will help facilitate the green energy transition. Being able to accurately model renewable assets, manage GoO and PPA contracts and at the same time provide scalable solutions for high frequency trading are all key elements for ane.energy – and core competencies of our software.
We look forward to the collaboration and to becoming a supporting element for the continuing success of ane.energy!”
About ane.energy
A network for renewables – free, independent and really green – that was the founding idea of ane.energy. We have made plant operators shareholders and have integrated wind, photovoltaics and biomass from all over Germany into our portfolio. This made us the last independent direct marketer.
We have remained true to our founding idea – independent and green. We are committed to the marketability of renewable energies and think out of the box. This makes us innovative, fast and digital – without neglecting coffee together or having fun at work.
We like to cooperate: with shareholders, operators and in projects with small companies as well as with the top dogs in the industry. We keep the goal in mind: efficient, sustainable energy production and marketing.
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.
Taking Efficiency in Energy Trading to the Next Level – Norlys Energy Trading 🇩🇰
A Strong Validation of the Ecosystem Concept
In May 2021, Previse Systems and Fidectus have embarked on a partnership to connect Previse Coral with Fidectus’ GEN platform. The goal of course was and is to enable seamless post trade processing and full back-office automation, including electronic Confirmation (eCM) and Settlement Management (eSM).
The pilot customer, Norlys Energy Trading A/S, is very satisfied with the combined solution:
“The collaboration of Previse Systems and Fidectus and their plug-and-play integration allow us to have ETRM and eCM/eSM centralised in one solution, enabling full trade lifecycle automation in one unified workflow”, says Michelle Rønne, Head of Back Office at Norlys Energy Trading.
For Previse Systems, the collaboration with Fidectus represents a strong validation of the Ecosystem concept – the combination of best-of-breed platforms and specialised applications using modern technology and communication standards.
A Previse Systems Success Story – Norlys Energy Trading 🇩🇰
Michelle Rønne, Head of Back Office at Norlys Energy Trading, talks about how Previse Systems make her life easier
“Previse Systems rethink the way ETRM software is designed – they have built a software that actually supports today’s trading patterns” says Michelle Rønne, Head of Back Office at Norlys Energy Trading A/S.
“We have worked with other solutions in the past and those solutions are not geared to handle the number of trades we are doing today. Today’s solutions need to be designed for many small trades rather than a few big ones.
The Previse Coral solution is very data and event driven, so rather than spending human resources clicking around the system, the solution automates processes and allows us to only focus on exceptions.”
Michelle, thank you very much for taking the time to share some of your impressions and experiences with the Previse Coral software with us, and with other prospective customers of Previse Systems!
Michelle: I have already mentioned performance and automation. A further important point to note is definitely the flexibility of the solution, especially around defining workflows: we are able to configure the system around our processes instead of being limited to follow processes defined by the system. Previse Coral is incredibly generic here, it allows to fine-tune the workflows exactly as we need them, e.g. with features like the transition process and the partial locking of trades.
Can you elaborate a bit on that?
Historically my experience is that we end up spending a lot of time changing the tradebook or strategy on the trade. With the Previse partial locking we can decide exactly what back office needs to have locked for controlling and what is open for front office to change.
Does that also extend to settlement processes?
Well, Previse Coral is designed with a settle date and a clearing date which allows us to model all the special rules from the clearing houses along with the exchanges. We know when the trade can be controlled based on when it will be cleared. This allows us to automate those processes.
We all know how difficult it can be to ensure that all trades that need to be controlled and settled on a given day are handled, because of all of the special rules given by the clearing houses and exchanges. So instead of setting up a very complex filter or query (which is impossible to maintain) we can simply select by yesterday’s clearing and settle date and this gives us the definitive list of items to be processed.
Has event driven settlement automation supported you in optimizing your processes?
Yes, absolutely. Since settlement is the final process of the trade, the numbers are always affected by the data upstream and it happens that some of that data might be captured incorrectly. For example, the clearing broker could have a mistake on their side for the settlement date or a manually captured trade could be wrong. In such cases, we just correct the data on the trade and the settlement event engine triggers a re-settlement of the trade automatically – we can then just flip over to the Settlement screen after editing the trade, and the data is already updated and ready for settlement.
It’s amazing not to have to run a batch process or similar! You can just process the data much quicker than in other solutions I have worked with.
Ørsted selects Previse Coral and ChorusLink for Day-Ahead and Intraday Power Trading
Zug, 9 December 2021: Previse Systems announced today that Ørsted has selected Previse Coral and ChorusLink for their day-ahead and intraday power trading operations in Denmark.
The solution will deliver full process automation: direct trade import from Nordpool, calculation of fees, settlement, fee and settlement matching against Nordpool, as well as an interface to SAP. Additionally, the solution will generate the REMIT reporting file and submit it via Equias to ACER.
Previse Systems’ partner Lead Consult will supply several elements of the overall solutions as Apps – namely the interface to Nordpool, settlement and fee matching, and the export of the REMIT file to Equias.
Asbjørn Hansen, Managing Director at Previse Systems, said:
“We are extremely excited about signing up one of the world most significant players in renewable energy and adding them to our customer portfolio. Bringing on yet another large energy trading company onto our platform just re-emphasizes the strength of our product, our team and our partners.
Working with Ørsted during the Proof-of-Concept over the past months to show the direct value of our solution has been a privilege. We are looking forward to supporting Ørsted on their journey from old on-premise legacy solutions 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, and bioenergy plants, and provides energy products to its customers. Ørsted ranks as the world’s most sustainable energy company in Corporate Knights’ 2021 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,672 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2020, the group’s revenue was DKK 52.6 billion (EUR 7.1 billion).
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.
About Lead Consult
LEAD Consult is a dynamic, customer-oriented company, specialised 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/.
Norlys Energy Trading Goes Live on First Release of Core ETRM Platform
Zug, 12. May 2021: Previse Systems announced today that Norlys Energy Trading has successfully taken the first release of it new Core ETRM platform – based on ChorusLink, Previse Coral and the Coral Ecosystem – into production.
The primary goal of Release 1 is to support the trading of power and natural gas on EEX as well as Nasdaq OMX, with master data provided by ChorusLink and valuations run in Previse Coral. Release 2 will expand coverage to further instruments across additional European markets for gas and power.
Release 1 was delivered entirely remotely. A strong team spirit with a shared focus on the common goal ensured a smooth and timely completion.
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.
Allan Kaufmann, Head of IT Development at Norlys Energy Trading, said:
“We welcome the first deployment of our entire platform into production and can officially state that Norlys Energy Trading is now an operating trading company. This first go-live will probably be the largest and most important deployment we ever face since all our different systems and components (that together represent our world class trading platform) now are combined and running.
It´s quite amazing to see how much we have achieved working from home! We have established very close collaboration with our various counterparts and especially with Previse Systems, who have proven to be a very flexible and high performing partner.
We have started out strong and now we are increasing the pace. What a fantastic journey!”
Asbjørn Hansen, Managing Director at Previse Systems, said:
“At Previse Systems, we are very proud of this first result of our partnership with Norlys Energy Trading. Thanks to an efficient and close collaboration of the project teams – of course entirely remotely as mandated by the circumstances – we were able to not only fulfil a very demanding project schedule, but even to increase the project scope and deliver more functionality than originally planned.
We were able to demonstrate the strength of our concepts for example in the core success criteria of time to market and performance – the combination of our innovative data management approach with the utilisation of advanced Azure cloud services and the serverless technology provided by Microsoft allows new markets to be onboarded quickly and valuation runtime to be all but independent of the number of trades to be valued.
We are excited to support Norlys Energy Trading on their journey and look forward to a continuous stream of further successful releases over the coming months.”
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.
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.
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.
