Genscape has been bringing real-time generation and transmission visibility to the European power markets since 2004. Since the introduction of the REMIT legislation 2011, Genscape has strategically and aggressively expanded its proprietary network of energy monitors to provide the most comprehensive, accurate, real-time data to market participants.
REMIT legislation governs wholesale EU energy trading, and its implementation is intended to create more transparency in the European power markets. However, market participants regularly complain of confusion around the methods and mechanisms for disclosure and for this reason Genscape´s Power RT service can be a critical tool, allowing traders to see the operational status of plants in real time.
In an article published Monday, 22 April by Montel (http://www.montel.no), Genscape is highlighted as the reliable, go-to "third-party data provider" for energy traders facing the market´s data and reporting inefficiencies:
"˜"I got used to it that info comes later or is sometimes misleading," said one Germany-based trader, who added that he had bought Genscape, a third-party data provider which detects outages. Two other traders Montel approached said they also used this software as a back-up for unclear disclosure data.´
Genscape independently collects and tracks European power data in one place, in real time and delivers it to market participants via its Power RT Service. Earlier this year, Genscape added new generation outage data.
"18 months ago when REMIT legislation was introduced, Genscape realized how difficult it would be to implement. We took advantage of our unique network of thousands of in-the-field energy monitors to create the most comprehensive coverage of independently verified, reliable, real-time power generation and transmission data in the market," says Tedann Olsen, Genscape´s Head of European Product Development.
A demo of the Power RT Platform is available by visiting info.genscape.com/power-rt-demo. Free trials are available at info.genscape.com/REMIT-2013.
About Genscape
Genscape is the leading provider of energy information for commodity and financial markets. Utilizing patented technologies and proprietary algorithms, Genscape provides accurate & timely data on capacities, flow and utilization for all major energy commodities to provide clients with increased market transparency and first-mover opportunities.