ProCom is a German company that offers both consultancy and IT tools throughout the energy value chain from production to trading. With over 100 employees, ProCom’s headquarter is in Aachen with one subsidiary in Berlin, Germany. Until recently, its focus has been on the German market, as is the case for most other German power industry consulting companies. In the last few years however, ProCom has started to broaden its focus aiming at both Europe-wide coverage and Asia.
I recently spent some time talking with Richard Plum of ProCom about the company and its IT solutions and how they are lined up on a broader European basis. They offer several software tools alongside its consulting services in the areas of asset optimization, intraday power trading, and forecasting, he told me.
The “BoFiT Optimization” tool transfers complex power generation or trading portfolios into a user-friendly, graphical model. Based on this model, optimization tasks can be planned and calculated for all kinds of business processes, ranging from long-term investment planning to short-term intraday trading. According to Mr. Plum, even German TSO’s are using the tool while ProCom is now actively addressing other European markets as well. In this context, it recently announced a partnership with Deloitte in the Czech Republic to offer joint services for power plant optimization in the Eastern European markets.
The ITA tool is targeted at the growing intra-day power markets and provides insights into the opportunities and risks of intraday trading. Its functionality supports all short-term intraday trading business processes while it can be easily integrated into the existing IT-infrastructure. ITA allows trading via the exchange, bilateral deals and, if connected to an optimization tool such as BoFiT, it continuously provides the trader with the available flexibility of the asset-backed portfolio. It is connected to both EPEX Spot and Nordpool and traders can see everything they need on one screen, he told us. The tool can also be extended to perform automated trading or algo trading.
Finally, there is a “BoFiT forecasting” tool which allows the creation of all kinds of forecast models for any kind of application. It provides a toolbox of calculation methods and is fully integrated with ProCom’s other software tools.
On top of that, as Mr. Plum told us, the consulting team is also able to consult on things like trading strategies, hedging strategies, how to set up automated trading and much more. We will certainly keep an eye on ProCom as they are moving forward.