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
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.”
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.