We were looking for software with the best value for money. XMtrade® system met a certain condition and all our other requirements.
About company
Сompany A.En. Slovakia, s.r.o., based in Martin, has long-term experience in energy trading. The company uses this experience and business relationships to ensure the purchase of electricity for its own customers.
A.En. Slovensko, s.r.o. is a company, based in Martin, with years of experience in energy trading. It uses gained experience, trade relations for purchase of electricity for its own customers. A large advantage of the company is a construction of its own energy sources, what creates an opportunity for proposal of more attractive offers for customers. A.En. Slovensko was established in 2004 as a subsidiary of the German company A.En. Invent AG, in order to help optimize the portfolio of energy products for the parent company.
In 2006, A.En. Slovensko expanded its activities in the Czech market through subsidiary company A.En. CZ, s.r.o. with its head office in Brno.
Background
As a participant in the wholesale electricity market, A.En. Slovakia, s.r.o., in 2016, handled fulfillment of the legislative obligation to report information on trading transactions to the Agency for the Cooperation of European Regulators (ACER).
Terms of the commitment are regulated by the Regulation of the European Parliament and the Council of Europe №271227-2011 on the Integrity and Transparency of the Wholesale Energy Market, known as REMIT. According to the Regulation, all information on contracts for purchase and sale of electricity in the wholesale market and the market of bilateral contracts among wholesale market participants must be provided no later than 1 month after its conclusion, modification or cancellation.
For A.En. Slovensko,s.r.o., our company developed reliable and affordable software to meet new legal requirements.
Objectives
Main goal of the project was to meet legal requirements for data reporting defined by law. Thus, at the beginning of April 2016, to launch in production software that registers and reports trading transactions.
A.En.Slovensko joined the commitment on a larger scale and for future investment. The company decided to establish cooperation with a partner whose technical solution will meet the following requirements:
- Will allow to provide information on trade transactions on behalf of the Slovak company A.En. Slovensko, s.r.o. before entry into force of the obligation.
- Will allow to provide information on trade transactions on behalf of the Czech company A.En. CZ, regardless of A.En. Slovensko, s.r.o.
- At the request of counterparties, the system will allow the transfer of trade information in the opposite direction.
Solution
XMtrade® information system provides information on realized trades. Despite the fact that the platform provides a comprehensive multi-purpose solution for the needs of the energy supplier, due to its modularity it was enough to implement only two modules - main and contract module - to achieve the necessary functionality for the customer. Thanks to this, it was possible to create an affordable solution in terms of cost and efficiency.
XMtrade® provides accounting of bilateral contracts for Slovak and Czech companies, registration of counterparties and contracts in accordance with ACER requirements, data generation in ACER formats. Data is provided by ACER through the RRM system (registered reporting mechanism). During deployment of the information system, services of the Slovak electricity market operator (OKTE, a.s.) were used, which enables reporting of data from bilateral contracts from foreign markets.
Technologies
XMtrade® provides data transfer to the RRM system (OKTE, a.s.) through web service available through Internet connection. Consolidated data contains very sensitive business information, so data transmission is provided by encryption and electronic signature. The data is sent in the form of messages in XML format. Document generation in the format established by ACER is fully provided by the information system.
Status of the data reporting process is monitored electronically with external RRM interfaces by a specialized communication module of the XMtrade® information system.
By viewing the reporting history and exporting it to XLS, you can report compliance with REMIT requirements to regulatory authorities.
Services
During the first stage of the project, an analysis of the types of trade operations and evaluation of the method of implementation within the solution took place. The project also included testing of connection with the selected RRM (OKTE, a.s.) and implementation of external interfaces.
Our experienced technical support team is responsible for support and supervision of the full operation. The system is controlled remotely, which allows to respond in a timely manner to a possible problem and prevent system failure in advance.
The XMtrade® system is ready to expand the range of energy products with gas or to activate other modules that cover other processes of energy supplier.