Market context
The GB electricity market is regarded as one of the most advanced in Europe, thanks to its regulatory framework which facilitates access, and the wealth of data made available to operators.
Milan headquartered Falck Renewables (which is evolving into Renantis), is a leading renewable energy company, which sought to efficiently enter the UK power market. Alongside setting up a new trading desk, they deployed Brady’s SaaS solution ‘PowerDesk’, to help seize intraday and day-ahead trading revenue opportunities faster.
“We have been involved in Brady’s PowerDesk product development project since the outset and are impressed with their expertise in short-term power trading. The Brady team understood our traders’ challenges first hand, coming from trading backgrounds themselves. The data visualisations that PowerDesk provides to view real-time net open positions and the quick trade features are exceptional.”
Simone Giacche, Energy Manager and Lead Power Trader at Falck Renewables.
The customer
Falck Renewables is a renewable energy company with an installed capacity of 1,420 MW in Italy, UK, France, Spain, the US, Norway and Sweden. Its wind and solar PV activities include the development, financing, construction and operational management of renewable energy plants in more than 40 countries.
The challenge
Falck Renewables’ UK trading desk specialises in renewable generation. Their risk management requirements arise from the contracts with asset owners and the uncertainty inherent in forecasting renewable intermittent generation.
Minimising the imbalance cost and risk are the key priorities. To manage this, Falck Renewables needed to ensure accurate and timely forecasts of generation to allow them to hedge to the best position. The company needed the ability to determine whether using current market prices was the most effective way of reducing exposure.
The requirements
Falck Renewables sought a single platform to facilitate trading on the exchange and the intraday market, collect data from the market and auctions, then combine these in a time series. In conjunction with robust computational power, the solution needed to be flexible to incorporate contract nuances with ease into calculations.
Furthermore, they sought a solution that was scalable to help them expand to other European short-term power markets with speed and efficiency.
The solution
Brady PowerDesk is an award winning solution designed by ex-traders for short-term power trading. Acting as a sophisticated trader’s ‘cockpit’ the platform offers intelligent visualisation of Net Open Positions, live P&L and market activity from one central place. Falck Renewables trades in GB day-ahead and intraday markets with PowerDesk as its central UK trading desk platform.
The future
Falck Renewables is a member of the Brady PowerDesk Advisory Board and continues to work closely with the Brady team on strategic functionality developments. Renantis plans to extend use of Brady PowerDesk to other trading desks as it expands its short-term power trading activities to other markets across Europe.
About Brady Technologies
Brady Technologies enables energy market participants to profit in new ways from their green energy transition, supporting our customers Environmental, Social & Governance (ESG) requirements. We provide software solutions to support above market returns, resilient risk management and scheduling in volatile markets.
Our customers include globally renowned organisations from utilities, independent power producers, renewable asset developers, energy trading firms, oil & gas companies, state power grid operators and commodity trading firms. Whether engaged financial or physical trading, on major exchanges or over-the-counter, we help market participants to realise revenue growth across the trading life cycle.
