Thomson Reuters' New Enhanced Analysis Tool Helps Energy Traders

Thomson Reuters' New Enhanced Analysis Tool Helps Energy Traders
21.04.2016 10:00 am

Thomson Reuters' New Enhanced Analysis Tool Helps Energy Traders

Trading Systems

Thomson Reuters is providing energy traders with comprehensive analysis of the intraday European power market via a new app on its flagship desktop platform Eikon. The tool helps energy companies manage their delivery commitments efficiently by generating intraday predictions for price drivers on the European Power Exchange (EPEX). The service does this by combining supply and demand forecasts with translated REMIT messages and up-to-the-hour weather forecasts to provide the consolidated analysis that enables market participants to make better-informed trading decisions quickly in fast-moving short-term markets.

Europe has seen immense growth in its renewable energy production capacity in recent years. The biggest driver of this growth has been Germany, where the current combined capacity from wind and solar production is now in excess of 80GW. Thomson Reuters forecast this to grow to just under 100GW by 2020. For context, the total power consumption in Germany in peak winter periods is approximately 65-75GW. With this renewable production capacity highly dependent on weather, it is very difficult for firms to predict the amount of renewable energy supply that will be delivered to a power grid, even in the very short term, close to gate closure.  Traders need to analyse huge amounts of data simultaneously to be able to make timely decisions.

Thomson Reuters new intraday power app on Eikon uses innovative visualization techniques to provide users with a single view of near to real-time updates and forward forecasts of renewable energy fundamentals, which, combined, provide an intuitive display of the current state of the power market at any given time throughout the day.

The app constantly updates the supply and demand forecast for the next 48 hours, immediately quantifies the impact of any change to available capacity as REMIT messages are received and provides users with the real time EPEX intraday prices they need to make well-informed decisions.

“European energy companies perform a daily balancing act to ensure they can meet the power requirements of their customers. Their success depends on being able to make well-informed decisions quickly,” said Leigh Henson, global head of energy for commodities, Thomson Reuters. “Our new intraday power capability on Eikon takes advantage of cutting-edge technology to help market participants cut through an enormous amount of data and see clearly how they should act in response to a change of weather or a power outage. We are committed to simplifying these complex tasks for our customers so that they can focus their time on the higher value activities.”

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