- Volue, a Norwegian energy and infrastructure technology company, has launched an automated position closing tool for contracts covering most European power markets for solar and wind energy.
- The product, dubbed Volue Position Closer, is accessible online via subscriptions and may be integrated into internal systems via application programming interfaces.
Typical users are renewable energy producers, portfolio managers, and municipal utilities that want to trade hourly or 15-minute contracts but lack resources in-house, or those who want to take over the task internally from service providers.
Users can reportedly upload their intraday positions to the platform, which then monitors market prices and manages positions automatically through algorithms, and close open energy positions in real-time.
“With solar in mind, we understand that balancing supply and demand is a complex task. It becomes increasingly more important to be able to respond quickly to changes in the market, to be able to trade closer to real-time, and to manage risk associated with volatile real-time prices,” Martin Teci, Volue’s vice president of strategic growth initiative, told pv magazine.
The software currently supports trading at Epex Spot, with further markets on its roadmap, according to the company. “Trades will be available in real-time, and we plan to offer reporting against the volume-weighted average price, as well as the imbalance costs,” said Teci.
The user will be able to see open or closed positions and performance can be tracked via the tool’s dashboard or explore look deeper into portfolio-level data. “Again, with solar in mind, instead of relying solely on static forecasts, users can make real-time adjustments and reduce penalties imposed by the transmission system operator (TSO) when the grid is imbalanced,” added Teci.
Volue has over 800 employees in 40 countries, serving customers in the energy, power grid, water and infrastructure sectors
Author: Valerie Thompson
This article was originally published in pv magazine and is republished with permission.
