In 2013, Just Energy selected Adapt2 ISO for their Settlements and Back Office operations. Driven by the success of that project, Just implemented Adapt2 ISO for their Front Office operations in ERCOT the following year. This was the beginning of an ongoing partnership. Adapt2 has since delivered functionality to support transactions in the United Kingdom as well as enhanced settlements capabilities in ERCOT through ERCOT 727 Reporting.
Established in 1997, Just Energy is an energy management solutions provider specializing in electricity, natural gas, solar, and green energy. With offices located across the United States, Canada, and the United Kingdom, Just Energy serves approximately two million residential and commercial customers. Adapt2 processes several TBs of data annually from the 10 ISOs Just Energy participates in. The company offers a wide range of energy products and home energy management services, including long-term fixed-price, variable price, and flat bill programs, smart thermostats, and residential solar solutions. Just Energy Group Inc. is the parent company of Amigo Energy, Green Star Energy, Hudson Energy, JE Solar, Tara Energy and TerraPass. Visit justenergygroup.com to learn more.
GOALS, CHALLENGES, & KEY FINDINGS:
When Just Energy initially met with Adapt2 Solutions, they were looking for assistance with invoice reconciliation and allocation across multiple calendar months. The primary goal was to align costs associated with monthly loads and revenues associated with electricity used by retail customers. At the time, this was managed through spreadsheets. In only five months, Adapt2 was able to provide back office and settlements functionality for PJM, ERCOT, NYISO, and ISO-NE. The settlement reports have provided new insight into data trends and enabled Just Energy to improve their cost estimates. According to the Director of Settlements and Mid-Office, Just Energy immediately realized the value of the Adapt2 application suite and understood that their business goals could not be supported in a timely manner through the previous manual processes. Overall, Adapt2 has consistently met the expectations of Just Energy.
“Adapt2 ISO enables quick and easy transparency to the most granular level of ISO settlements. This allows Just Energy to efficiently and effectively use this data to calibrate models and explain results of operations.” -Levent Tosun, Director of Settlements and Mid-Office
Adapt2’s next-generation bid formulation toolkit allows users to create templates for all ISO transaction types, including Generation, Demand, Virtual, and Bilaterals. Submit logic is connected directly to templates, eliminating the latency caused by legacy integration processes. Templates are fully auditable, including the ability to search history and recreate a bid strategy from the ground up. Offer formulas are fully transparent and user-configured.
PROFIT AND LOSS:
Deliver valuable P&L results to your business for all ISO transactions. Configure ad-hoc calculations in Adapt2’s P&L pivot grid, or schedule calculations to occur as the data updates in real-time. Connect to SCADA and trading systems with Adapt2’s standard PL Data API. Create various types of P&L reports, including intra-day, indicative, as-bid, as-burned, and settlement. When combined with Bid Accelerator, Unit Capability, and Adapt2’s inbound SCADA API, P&L can be fully automated and provide real-time feedback on the health of your operations.
POWER TRADE BLOTTER:
Create bids and offers quickly without cluttering your CTRM system with extraneous information. Cleared positions and schedules are instantaneously sent to the CTRM system for VaR, Greeks, Credit, and other Risk analysis processes. The blotter provides power trading and position management capability that eliminates spreadsheets and other manual processes.
Accounting Month module provides a snapshot of all settlement charge types and true-ups included in an approved invoice. This allows users to analyze sub-hourly and locational granularity that can be reconciled directly to an invoice. Accounting Month data can be integrated to many accounting systems to automate part of the month-end close process. Track settlement data quality across multiple levels, including Actualized, Settled, and Estimated.
With Adapt2’s premier Revenue Assurance module, perform shadow settlements and compare the results to the best-available settlement data in a simple Market vs Internal view. Use multiple sources of internal data to create a full shadow and combine with simple rolling averages to deliver month-end estimates. Settlement formulas are completely transparent to the user and support customization for source data and logic. Run shadow settlements ad-hoc or on a scheduled basis.
Confidently complete the last steps of settlement analysis with Adapt2’s Allocation engine. Convert ISO total uplift charges to a utility, asset, or portfolio level. Predict the impact of synergies by shadowing deviation penalties in the allocation process. Report total ISO cost and revenue divided across any allocation bucket. Easily aggregate allocation buckets up to general ledger codes or mappings to integrate fees with your trading system.
Rapidly import multiple sources of meter data such as MV90 or integrated GMS data. Design meter calculations to aggregate sub-meters or configure if-then-else logic to submit the best available meter. Manage an entire network of sub-hourly sub-meters and totalize for ISO submission at the nodal or zonal level.
Create your own reports inside of Adapt2’s end-user reporting toolkit. Deliver results to your business directly in Adapt2 or through automatic file publishing to a network share, email distribution list, or Magellan Reports Website. All reports are available via web service and API.
Provide a website for your Commercial & Industrial customers to import and manage their production forecasts. Review production schedules and load forecasts and then set tolerances to reduce risk. Easily enable straight-through submissions to the ISO for your advanced C&I customers, or add steps to their workflow requiring approval and checkout.