A dozen utilities and cooperatives in 11 states in the Southeast are now collaborating to form the new SEEM bilateral market, the benefits of which are estimated to be very significant and range from $50-100 million dollars annually. The SEEM design was approved by FERC last November with a proposed go-live in November of this year. The purpose of PCI’s webinar is to showcase our integrated, cloud-enabled platform designed to optimize SEEM market participation. Specific modules to be shown include:
1.) “PCI SEEMTrader”, a comprehensive market system that:
– Generates balanced schedules with latest VER (solar & wind) schedules
– Creates SEEM bids and offers, then submits them to the SEEM Portal
– Downloads 15-minute cleared trades and prices
– Estimates profit and loss for cleared SEEM trades
2.) “PCI Post-Analysis” delivers a broad set of business process solutions for SEEM players including:
– Identify generation resources that (a) need to be ramped-up every 15-minutes to sell energy to SEEM, and (b) resources that will need to be ramped down to buy energy from SEEM
– Compute actual profits and losses for SEEM transactions. Note that, based on PCI’s experience, 90-95% of SEEM transactions will be profitable while 5-10% of the transactions could lose money due to improper pricing, VER outputs not being properly forecast, or thermal resources not being optimally dispatched. If these issues are identified and fixed, especially early in the market, significant savings can be achieved.
a) Quantify SEEM market impacts on fuel consumption, especially natural gas procured daily
b) Quantify SEEM impacts on emissions (GHG, SO2, NOx, etc.) – vital for some market players since reducing emissions could be a strategic objective
3.) “PCI Contract Settlements” is used to compute bilateral settlements and create invoices for SEEM trades.
– Perform 15-minute settlements
– Create month-end invoices