How we help EDF Renewables keep track of key events and opportunities in the GB power market to support its flexible assets.
The EDF Renewables team were looking for a quick way to break through the large quantities of disparate data available online to quickly analyse the opportunities available to flexible assets. The team required a way to generate summary screens for internal reporting over custom time ranges, while also being able to drill into the details of the opportunities in wholesale, balancing and ancillary markets as well as individual assets’ profits and running strategies. The team required both web and API access to granular and summary data.
The majority of this functionality was readily available through LCP Enact, with some of the more custom workflows not yet in the platform. Working closely with the team, we expanded LCP Enact’s offering to include details around embedded registers, custom visualisations of balancing costs, and summary screens of the ancillary markets. The platform now caters to their requirements and delivers regular internal reporting through summary dashboards and leaderboards as well as giving analysts the ability to drill into specific market and plant behaviour.
The team have embedded LCP Enact into their daily workflows, and have found that using LCP Enact has made their work significantly quicker and easier. Where regular reporting and analyses were possible but time intensive, Enact has allowed them to generate regular internal reports with ease, perform analyses quickly and effectively, and benchmark market and existing battery storage behaviour in one location. This has subsequently allowed the team to free up their time and focus on the growth and strategy of the business.
Enact makes it extremely easy to understand events in – and locate and extract data on – short-term electricity markets. In particular, Enact helps us keep on top of the various fast-evolving routes to earning revenue for technologies that provide flexibility.
How we can help
We can help our clients with a wide range of issues from whole system modelling to individual power plant and policy impact analysis.
Strategic advice aimed at maximising the benefits and minimising the risks associated with the Capacity Market and Contracts for Difference.
We advise on the optimal dispatch of assets within the wholesale market, forward planning of maintenance activities and valuation of commercial upgrades to plant.
We provide detailed forecasts of the GB and Irish power markets, using our EnVision modelling framework. This can provide both short-term and long-term forecasts of all key system metrics, from system wide to individual assets.
We work extensively in the Irish market, providing market modelling and analysis to investors, generation owners and governments.
Enact is an advanced data integration and analytics platform for the GB electricity short-term markets, allowing power traders to make more informed decisions and analysts to benchmark their asset's performance.
Our understanding of market dynamics and modelling experience allow us to offer evidence-based recommendations on complex policy and regulatory issues that allow fully informed decision-making.
We combine bottom-up unit-level modelling with market and policy insights to quantify the value and understand the risk associated with any generation asset.