Sourcing power from power exchange provide consumers with an alternative option of sourcing power. Many states have allowed their open-access consumers to source power from power exchange. However at the same time, the open-access consumers are being exposed to increasingly complex regulations while scheduling power from power exchange. The state regulations levy onerous restrictions and penalties in case the scheduled power from exchange is not cleared.
Power exchange price displays high variability and additionally variability in power consumption profile increases the complexity in scheduling optimal power volume on the exchange. These factors lead to restricting the availing potential benefit from sourcing economic power from power exchange. It has been observed that clients usually follow a conservative approach while bidding in the power exchanges. It has been observed that client usually derive only 40-70% of the potential saving available through power trading. This leaves a significant proportion of the saving that may be realized through efficient power trading bidding.
Lack of insight about their respective power consumption profile along with uncertainty about clearance of exchange bid are key inhibitors for consumers in availing power consumption from power exchange. Power consumers at all times are in need of key vital information regarding efficient procurement level, likely exchange price clearance slot(s), savings from exchange sourced power and accurate amount of bill to be settled at the end of every month.
Energy Management Dashboard Solution shall enable you to manage the penalty on account of the latest change in regulations. Dashboard shall enable you to monitor your Load Pattern using which the under/over drawls can easily be managed.
Our smart Energy Management Dashboard provides updated, client-specific and accurate analysis of client’s power consumption and procurement profile enabling actionable information to resolve all key issues/ queries in efficient power management.
We also assist power consumers in determining efficient bid level for sourcing power on exchange on day-ahead basis considering prospective load profile of the production facility, bidding constraints, break-even price etc. SmarTech Energy Services has developed a predictive modeling approach that forecasts the prospective exchange clearance slots as well as power consumption profile of the specific client’s production plant thereby determining efficient bid level for maximizing power cost saving. The methodology encompasses both technical and fundamental system study for forecasting client specific region exchange price and production facility power consumption. Efficient Bid assistance service enables clients to appreciably improve their net savings from trading on power exchange.
Increasingly state regulations are becoming complex for scheduling open-access power. Utilities are mandating power consumers to provide firm schedule of open-access power to the SEB on day-ahead basis which is compounding difficulty for the clients to place bid on exchange so as avoid heavy penalty or non-issuance of NOC, mainly in Uttarakhand & Himachal Pradesh. This has necessitating needs for identifying likely exchange clearance slots on day-ahead basis.
Discovering efficient bid volume considering inventory required for the day, production plan, historical exchange price pattern, power demand-supply dynamics, seasonal influences, bidding constraints, break-even bid level etc. is a specialized task & variability in power consumption profile increases the likelihood of scheduling conservative power volume on the exchange. SmarTech Energy Services has developed a predictive modelling approach that forecasts consumption profile of the client thereby determining efficient bid level which helps client to minimize the deviation so as to avoid penalties.