Tri-State Generation and Transmission goes live in the SPP Western Energy Imbalance Services (WEIS) Market with Adapt2’s Cloud-Native Market Operations Platform, achieves new market entry implementation.
HOUSTON, TX – (February 2, 2021) Adapt2 Solutions, a leading provider of AI-enabled multi-market operations and trading software, today announced the successful go-live of Tri-State Generation and Transmission in the new SPP WEIS market. Tri-State is leveraging Adapt2’s Flagship Cloud-Native Platform, Adapt2 Bid-to-Bill (B2B), for SPP WEIS and will expand into CAISO WEIM later this year.
This go-live announcement comes after years of collaboration and Southwest Power Pool (SPP) officially announcing that it launched its Western Energy Imbalance Services (WEIS) market at midnight February 1. The real-time balancing market is the latest of SPP’s contract-based Western Energy Services to be implemented in the Western Interconnection and is expected to lower wholesale electricity costs, increase price transparency, and mitigate congestion on the transmission system for market participants.
“This is an exciting step for SPP and our new market participants in the west. Our electricity markets have played a big role in lowering costs, integrating renewables, and enhancing reliability in the east, and we’re excited to see a new part of the country begin to see similar benefits,” said SPP President and CEO Barbara Sugg. “I’m hopeful this is just the beginning of valuable partnerships between SPP and western utilities that will help them and the customers they serve to meet their financial, reliability, and renewable-energy goals.”
Adapt2 Solutions has been working with Tri-State Generation and Transmission over the past year to achieve milestones and ensure a successful market go-live. Through the use of Adapt2’s B2B solution, Tri-State is able to automate bidding and settlement operations, quickly access five-minute and intra-hour market data, and access real-time reporting for strategic decision making.
“With a low cost of entry, immediate economic benefits, and greater market experience for Tri-State, the WEIS delivers real benefits to our members,” said Duane Highley, Tri-State CEO. “Importantly, the five-minute WEIS intra-hour market will greatly aid in the integration of more renewable resources that empower Tri-State’s clean energy transition. This is an important first step toward a full RTO in this region to help Tri-State meet its clean energy goals.”
By integrating more renewables into their system over the next four years, Tri-State moved toward organized markets and needed a partner to connect to the markets with a standardized platform, open access to data, and powerful technology. By implementing Adapt2’s Bid-to-Bill (B2B) Software for all front and back-office functions, Adapt2 fully supports Tri-State’s scheduling and trading needs in SPP WEIS including bidding, settlement, outage management, and member billing functionality.
“The successful launch of the SPP WEIS market and Tri-State participation along with other new market participants is a fantastic achievement by all. Being a partner in this new market alongside Tri-State is an honor and we are looking forward to continued innovation together,” said Executive Vice President, Jason Kram.
Enabled by AI and big data, Adapt2 B2B is market-tested to provide market participants across all North American ISO energy markets a strategic advantage with significant efficiencies.
To learn more about how Adapt2 is accelerating power and gas market operations, visit http://adapt2solutions.com or follow Adapt2 on LinkedIn (@Adapt2 Solutions).
About Adapt2 Solutions:
Adapt2 Solutions (Adapt2) is the leading provider of AI-enabled multi-market operations software designed to help market participants streamline all of their front and back-office operations. Founded in 2008, Adapt2 delivers market-based solutions on the latest and most current technologies providing customers with a fast, intuitive, and stable user experience and performance. With over 160 market implementations, Adapt2 is a leading solution provider in the energy industry. Adapt2 Solutions is a privately held company based in Houston, Texas. To learn more about Adapt2, please visit www.adapt2solutions.com.
About Tri-State Generation and Transmission Association:
Tri-State is a not-for-profit cooperative of 46 members, including three non-utility members and 43 member electric distribution cooperatives and public power districts in four states that together deliver reliable, affordable, and responsible power to more than a million electricity consumers across nearly 200,000 square miles of the West. For more information about Tri-State and its Responsible Energy Plan, visit www.tristate.coop.
Portions of this announcement were adapted from SPP