Tallinn/Vienna/Budapest, May 14, 2019 – Eesti Energia, the largest energy producer in the Baltic countries, signed a contract with IP Systems Zrt together with VisoTech GmbH on delivery and 5-year support of a trading and optimisation solution.
IP Systems and VisoTech – together with Decision Trees as subcontractor – are proud to be selected by one of the major players in the Baltic Sea region to deliver an innovative information system for electricity trading and production on the Nord Pool power exchange.
Digitalisation is part of Eesti Energia’s business strategy. A modern electricity trading system is one subject of this digi-strategy and allows us to strengthen our position in this specific area.
Estonia’s electricity market is recognised as one of the most advanced and innovative in the European Union. Eesti Energia takes a leading role in introducing tools to improve its competitive position on the electricity market in the Baltic Sea basin. By automating a wide range of trading-related business processes, the solution will help to improve trading and production efficiency of the current 9.2 TWh (for example, Estonia’s annual consumption in 2018 was 8.7 TWh) portfolio and increase revenues. Thereby, the flexibility of conventional as well as renewable generation portfolios will be continuously optimised and automatically traded on the Nord Pool short term electricity markets.
“Digitalisation is part of Eesti Energia’s business strategy. A modern electricity trading system is one subject of this digi-strategy and allows us to strengthen our position in this specific area,” said Agnes Roos, Head of Business and Information Technology Service.
With this contract IP Systems, VisoTech and Decision Trees are expanding their activity to the Baltic electricity market, thus establishing a combined presence in the region. The Baltic states, together with Nordic countries are strategically important for the companies’ further expansion. The suppliers are committed to provide excellent service to Eesti Energia (operating as Enefit outside of Estonia) and to further expand their customer base in the region.
“Through digitalisation and automation, innovative companies such as Eesti Energia enjoy a distinct competitive advantage in today’s rapidly changing energy industry,” said Jürgen Mayerhofer, Managing Director of VisoTech. With the Periotheus Automated Trading Platform, VisoTech offers a fully integrated short-term energy trading solution for power and gas.
About Eesti Energia
Eesti Energia is a state-owned international energy company that operates in the electricity and gas markets of the Baltic countries, Sweden, Finland and Poland, also in the international liquid fuels market. They offer energy solutions that include electricity, heat and fuel production, sales and customer service and other energy services. Their unique experience and technology in relation to processing oil shale and energy production are held in high regard around the world.
About IP Systems
IP Systems is an IT developer and consultancy company specialized on the liberalized energy markets. The company provides platform and software solutions for systems operators to market and manage their transmission or storage capacity products and services. Traders can choose from various software tools that support their wholesale and retail activities. Other solutions provide platform solutions for auctions, trading and exchange operations. Since 2008 IP Systems’ products have been used in: Austria, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Romania, Slovakia, Switzerland and Ukraine. IP Systems is a company limited by shares (Zrt.) 100% owned by its employees.
About Decision Trees
Decision Trees (DTrees) is a professional consultancy and software house that focuses on the introduction of next generation stochastic optimization methods in the energy industry. DTrees was founded in 2008 in St. Gallen and today it also operates from Munich. DTrees provides various energy companies across Europe optimization software and consulting services for diverse use cases from the dispatch planning of hydro-thermal generation portfolios, flexible electricity consumption portfolios to the optimization and extrinsic valuation of natural gas and other commodity portfolios. Well known energy producers such as ExxonMobil, TIWAG, Trianel and Salzburg AG are using DTrees’ optimization solutions.
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