April 21, 2016
Thomson Reuters Helps Traders Quickly Predict Intraday Prices in High Speed Power Market
LONDON – Thomson Reuters is providing energy traders with comprehensive analysis of the intraday European power market via a new app on its flagship desktop platform Eikon. The tool helps energy companies manage their delivery commitments efficiently by generating intraday predictions for price drivers on the European Power Exchange (EPEX). The service does this by combining supply and demand forecasts with translated REMIT messages and up-to-the-hour weather forecasts to provide the consolidated analysis that enables market participants to make better-informed trading decisions quickly in fast-moving short-term markets.
Europe has seen immense growth in its renewable energy production capacity in recent years. The biggest driver of this growth has been Germany, where the current combined capacity from wind and solar production is now in excess of 80GW. Thomson Reuters forecast this to grow to just under 100GW by 2020. For context, the total power consumption in Germany in peak winter periods is approximately 65-75GW. With this renewable production capacity highly dependent on weather, it is very difficult for firms to predict the amount of renewable energy supply that will be delivered to a power grid, even in the very short term, close to gate closure. Traders need to analyse huge amounts of data simultaneously to be able to make timely decisions.
Thomson Reuters new intraday power app on Eikon uses innovative visualization techniques to provide users with a single view of near to real-time updates and forward forecasts of renewable energy fundamentals, which, combined, provide an intuitive display of the current state of the power market at any given time throughout the day.
The app constantly updates the supply and demand forecast for the next 48 hours, immediately quantifies the impact of any change to available capacity as REMIT messages are received and provides users with the real time EPEX intraday prices they need to make well-informed decisions.
“European energy companies perform a daily balancing act to ensure they can meet the power requirements of their customers. Their success depends on being able to make well-informed decisions quickly,” said Leigh Henson, global head of energy for commodities, Thomson Reuters. “Our new intraday power capability on Eikon takes advantage of cutting-edge technology to help market participants cut through an enormous amount of data and see clearly how they should act in response to a change of weather or a power outage. We are committed to simplifying these complex tasks for our customers so that they can focus their time on the higher value activities.”
Thomson Reuters Eikon is a powerful and intuitive next-generation desktop platform for consuming real-time and historical data, supporting financial markets transactions and connecting with the financial markets community. Its award-winning news, analytics and data visualization tools help its users make more efficient trading and investment decisions across asset classes and instruments including commodities, derivatives, equities, fixed income and foreign exchange. Thomson Reuters Eikon provides an open technology platform that is connected, informed and intelligent and that enables access to a messaging community of over 250,000 financial professionals via both desktop and mobile devices.
Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, visit www.thomsonreuters.com.
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