Igloo Seeing Short-Term Power Solution Demand
Last week, I had an update from Igloo Trading Solutions (Igloo), the UK-based ETRM software vendor. Igloo’s Dale Emmerson told me that it is also experiencing high demand. “We have closed two new clients in the last two weeks. One was a UK supplier and the other a European power trader,” he told me. Dale sees a lot of demand particularly for its short-term power offering. “We have an execution platform,” he said. “We can execute on intra-day continuous markets and tag assets on the order. People find this very useful!” A number of existing clients have also taken the auto trader module as well. Dale points to the transition to more flexible generation in European markets as driving some of the demand and he sees a lot of interest and discussion particularly around battery assets and their optimization.
Dale also sees Igloo’s relationship with Equias as important. “Automated confirmation matching and regulatory reporting services are being supplemented by Equias’ settlement matching which about one third of the market has already adopted,” he said. “Igloo is fully integrated to Equias via the back end of the solution. Older, legacy ETRM applications are no longer fit for purpose especially for short-term power trading,” he explained. “So what we see is this functionality being added as a separate module rather than ripping out the older ETRM. In that regard, Igloo can provide the exchange connection, real-time execution and so on.”
As for the lockdowns and work from home, Dale was speaking to me from his home office and he told me that Igloo had closed 4 clients during the lockdown period. All implementations were done remotely “even before the lockdown”, he told me. So this was not seen as a particular challenge but more as the norm. It is simply one of the benefits of a cloud ETRM solution.
Keep in touch and sign up to our Newsletter
