The new system consists of Siemens’ Spectrum Power Energy Market Management system (EMM) integrated with the Settlements, Billing and Invoicing module of EnSuite Financials by EnDimensions LLC. Spectrum Power provides the energy market system interface for all market participants in order to offer their assets to the Colombian energy market and update the energy contracts information in the market operator portal. This enables reliable tracking of market transactions, energy resource registration, compliance monitoring and meter data management. Using an open architecture and international standards this data is transferred to EnSuite Financials to compute settlement charges and perform billing and financial analytics.
This is the first Energy Market Management system of its kind delivered to the Latin American market. This new system offers modernized technology, reduces costs and facilitates regulatory compliance, allowing XM to better accommodate a rapid rise in Colombian market volume which has exceeded 65 TWh per year and may approach 100 TWh over the next five years, according to XM’s 2015 annual report. After a very engaged proof-of-concept phase demonstrating the solutions’ functionality and benefits, Siemens and EnDimensions were selected for the project. The partners were the only group capable of complying with all of the three aspects requested by XM including functionality, budget and commercial use.
"After a throrough analysis of the different options the market offers for an EMMS, we found in the solution provided by the consortium Siemens-EnDimensions a robust and flexible system as it is required today for an efficient and reliable management of power markets," said Dr. Cecilia Maya Ochoa, CFO and Market Operations Director at XM. "We are positive that with the support of this solution we will be able to face the challenges ahead for market operation."
“Siemens is proud to be a part of XM’s business transformation and we are confident that the Siemens-EnDimensions solution will support with its flexibility and robustness all market process as well as all the possible changes in the regulation,” said Domenico Mazzillo Ricaurte, Regional Manager of Software & Solutions with Siemens Digital Grid. “With this implementation we can affirm we are digitalizing Colombian energy sector.”
“We are very pleased as a group to have excelled through XM´s very rigorous vetting process, and we expect that XM and the Colombian energy market will be exemplars of robust market infrastructure and sound market design to other markets across South America and the world,” said Dr. Jeffrey Chapman, CEO of EnDimensions LLC.
Colombian Market Operator XM – XM, Companía de Expertos en Mercados S.A. E.S.P. operates the National Interconnected System –SIN– and runs the Colombian Wholesale Energy Market –MEM–. It also administers short-term International Electricity Transactions -TIE- with Ecuador, and provides operation services of power systems and real-time systems, electricity market solutions, and ancillary products.
