Energiauktion.dk an automated end-to-end broker
In close collaboration with the Danish energy trading specialist Norenergi, Partisia has developed an end-to-end auction solution for electricity procurement (Partisia Power Procurement). The solution makes it simple to run professional procurement auctions for electricity and it is tailored to Small and Medium sized Entreprises (SMEs). Unlike large electricity consumers, SME’s typically stick to their common electricity suppliers. With Partisia Power Procurement we make the best price on future electricity consumption. In Denmark the solution is available through Energiauktion.dk a joint venture between Partisia and Norenergi.
The solution is basically a trustworthy “middleman”, simplifying the procurement and bidding process as well as managing consumption data, auctions and resulting contracts for both buyers and sellers.
From the buyers’ perspective, the solution makes it simple to make a professional procurement description as well as managing the associated data and documents. Initially the buyer is asked to register his power meters, which is the basic entity in the procurement process. As soon as the historical consumption data is collected, the buyer describes the procurement by simply selecting power meters, time period and type of product (e.g. fixed or variable price). Then the buyer simply starts the auction and wait for the system to return with the best price bid. If the buyer accepts the best price bid the final contract between the buyer and seller is automatically issued.
From the sellers’ perspective, the solution simplifies the bidding process by collecting all the neccesary information in one place. Hereby it becomes cost efficient to bid on even small trades.
The entire procurement solution is “Software-as-a-Service” using cloud computing. This makes the solution cost effective without compromising the security. The low operation costs and the simplyfied procurement design, makes it a profitable solution for handling many small trades for both buyers and sellers. Power Procurement is operational in Denmark at Energiauktion.dk, and makes it possible for our business partner to serve a customer segment which is unprofitable for a traditional energy brokers.
By spring 2014, the newly opened datahub at energinet.dk (the Danish System Transmission Operator TSO) will contain the required 12 months of historical electricity consumption for all power meters in Denmark. Energiauktion.dk will take full use of this ideal data source and make it even simpler and faster to run electricity auctions