Headquartered in Innsbruck, TIWAG is one of Austria’s most profitable energy providers and produces over 3 TWh per year, 100% of it renewable. The Periotheus autoTRADER has been in operation at TIWAG for around two years. What challenges led to the introduction of the software, and how were they overcome?
The challenge: Optimising trading processes
Near the end of 2016 TIWAG made the decision to further optimise their trading processes and to increase the degree of automation. The volume of trades was rising, the number of products growing and volatility increasing while at the same time energy prices on the wholesale market were dropping. All of this made trading increasingly complex and it was getting harder to keep an overview of the market. Rather than deciding on each transaction individually, traders should be able to put their years of experience to more strategic use.
This required a fully automated trading solution that could intelligently take over or at least support as many of the trading processes as possible. It was initially intended to trade on EPEX SPOT but should also be able to support other European exchanges such as Nord Pool. Flexibility was just as important as the easy integration into existing systems.
Compared to projects from large IT houses, where it often takes a long time to get the work done, the implementation experience with VisoTech was extremely pleasant. Our trading team can now focus completely on dispatching, selecting and applying appropriate trading strategies to achieve better pricing and higher profit margins.
The Periotheus Platform has long been in use at TIWAG with its merit order list function. Given the positive cooperation with VisoTech, the decision was made in favour of the autoTRADER.
To find out more about TIWAG’s implementation of fully automated short-term trading, the benefits they have experienced and their plans for future expansion, please download the full case study.