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EnergyOffer for the Wholesale Electricity Market (WEM/SWIS)
EnergyOffer is a multi-commodity, multi-market platform capable of submitting, compliant bids for energy in markets across Asia-Pacific.
EnergyOffer is out-of-the-box ready, proven and compliant for use in the Wholesale Electricity Market (SWIS).
About the Wholesale Electricity Market (WEM) – Western Australia
Established in 2006, the Wholesale Electricity Market (WEM) for the South West interconnected system of Western Australia (SWIS) serves a population of approximately 2 million people in Western Australia and has a peak demand of approximately 4,000MW.
The geographical separation of Western Australia from the eastern states means that this market is separate from the NEM, and operates in a different manner, namely that it is designed to ensure that WA is self-sufficient for its electricity needs.
The Independent Market Operator (www.imowa.com.au) is responsible for the administration and operation of the WEM while System Management is responsible for the secure and reliable operation and energy dispatch of the SWIS. The WEM contains energy trading features that are different in ntaure to the NEM, namely:
- Bilateral Contracts: these are agreements between wholesale market suppliers and consumers for the provision of energy. The market has no role in how these contracts are formed or on the conditions contained within these contracts.
- The Short Term Energy Market (STEM): the STEM is a daily forward market for energy that allows Market Participants to trade around their bilateral energy positions (established in 2006).
- The Balancing Market: this market is used to determine actual dispatch in the WEM. Market Participants provide balancing submissions for each trading interval, specifying prices at which their facilities may be dispatched and by how much. The IMO uses these prices to construct the Balancing Merit Order, used by System Management for real time dispatch (established in July 2012).
The WEM also supports other features such as:
- Demand Side Programmes
- Reserve Capacity Mechanism, and
- Ancilliary Services
EnergyOffer (EO) is a visually rich and comprehensive system with the following key features:
Spot trading for multiple markets2
Coincident multiple unit bidding3
Market compliance management4
High performance & reliability5
Market-specific task shortcuts6
Full enterprise grade features7
Bidding and bid management for:
Easy to use, intuitive interface
Fast to use, modify, bid or re-bid
Integrated bidding solution able to address all markets in the WEM
Market gate dashboard providing at-a-glance information on market gate status & current submission compliance
|Security and Compliance||
Full compliance with IMO market requirements
Market changes included automatically
Audit trail provides confidence
User role-based security provides operational risk management
Can be used by generators operating in multiple markets and for multiple energy commodities
Integrated with the bid preparation and workflow automation tools in EnergyFlow
Other Product Solutions offered for the Wholesale Electricity Market
EnergyOne Trading can provide out-of-the-box management of contracts for WEM electricity trading. This includes swaps, options, demand side contracts, PPAs and complex structured trades from deal entry through to settlement, reporting and enterprise integration. EnergyOne Trading is a proven and reliable enterprise solution capable of rapid implementation for immediate results.
EnergyOffer is out-of-the-box capable enterprise platform with specific features to enable rapid, reliable and auditable energy bidding for the STEM, Balancing, Resource Planning and Bilateral markets. Proven with IMO systems, EnergyOffer represents the best of breed for WA energy trading needs.