The SettleCore product and their customer support staff have allowed us to realize a new level of efficiency across multiple departments. We are extremely happy with our selection of SettleCore.
Claremont, CA (PRWEB) October 30, 2014
Power Settlements commends the City of Pasadena’s adoption of the SettleCore™ ETRM energy trading and risk management system one year ago. The system, from Power Settlements, also includes full Bid-to-Bill scheduling and shadow settlements integration for Pasadena’s activity in the California ISO (Independent System Operator).
SettleCore™ ETRM addresses Pasadena’s energy trading and risk management needs for power and natural gas, bid-to-bill and ISO communication needs, and reporting needs - all within one system from one vendor. The City of Pasadena sees its use of SettleCore™ ETRM as a success one year after their go-live date.
Erik Johnson, Principal Energy Trader at the City of Pasadena says, “One year ago, we implemented the SettleCore™ ETRM system on time and on budget. We were able to successfully replace multiple systems with one system that could address the process improvements and reporting enhancements we felt were critical needs for our operations. The SettleCore™ product and their customer support staff have allowed us to realize a new level of efficiency across multiple departments. We are extremely happy with our selection of SettleCore”.
According to David Dan, CEO of Power Settlements, the significance of the project is that “the industry has long been in the need of a high quality ETRM solution that can handle the complexities of Power and Natural Gas deals, ISO Bids and Schedules, with straight-through processing of Settlements, and Position Management and Credit all in one system.” SettleCore™ is that solution.
David says, “Power Settlements was able to have the SettleCore™ suite in production within a few months and there is nothing like our single system with ETRM and Bid-to-Bill functionality in the marketplace.”
About City of Pasadena Water and Power Department
The Pasadena Water and Power Department (PWP) began as the Pasadena Municipal Lighting Works Department, which was officially created in 1906. The City’s first steam plant began operating in June 1907, and initially provided service to the City’s residential customers. The City has continued to expand its electric distribution system to meet the demands of its residential, commercial, industrial and public sector customers. PWP serves about 64,000 electric retail customers with a peak load of approximately 320 Megawatts (MW) and a resource mix of local steam and gas turbines, small hydroelectric, and long-term power purchase agreements.
About Power Settlements Consulting and Software, LLC
Power Settlements is a software company that specializes in providing software solutions to energy companies that participate in the ISO and RTO physical power markets. Power Settlements, which first deployed the SettleCore™ ISO/RTO solution to customers in 2009, has quickly amassed one of the largest customer bases of all scheduling and shadow settlement software vendors in the ISO/RTO markets. Power Settlements offers the industry’s leading Visual Analytics functionality for analyzing generator dispatch performance. The company’s software solutions are in use at some of the largest investor owned utilities, municipalities, independent generators, and hedge funds across the United States. More information about Power Settlements can be found at http://www.powersettlements.com.