Adapt2 Solutions facilitates seamless entry for Tri-State into Southwest Power Pool’s Western Energy Imbalance Service (SPP WEIS) and California ISO Energy Imbalance Market (CAISO EIM)
Tri-State to deploy Adapt2 Solutions Platform to enter two energy imbalance markets. (Credit: fancycrave1 from Pixabay)
Adapt2 Solutions, a leading provider of AI enabled multi-market operations and trading software, today announced that Tri-State Generation and Transmission Association selected their platform in preparation for advanced market operations and settlements in CAISO EIM and SPP WEIS energy markets. The new partnership enables Tri-State to leverage Adapt2’s cloud-based platform, energy expertise and deep market data to enter two new markets simultaneously.
“With utilities increasingly seeking cleaner energy alternatives, our business requires different market structures to meet the needs of our diverse customers,” said Michael Mason, Energy Applications Services Manager at Tri-State. “To significantly expand into new markets, we need a technology-forward partner with smart solutions who understands quick market changes and can respond even faster. That’s where Adapt2 comes in.”
By integrating more renewables into their system over the next four years, Tri-State moved toward organized markets and needed a partner to connect to the markets with a standardized platform, open access to data and powerful technology. By selecting Adapt2’s Bid-to-Bill (B2B) Software for all front and back office functions, Adapt2 will fully support Tri-State’s scheduling and trading needs in the new imbalance markets including bidding, settlement, outage management and member billing functionality. Over the next few months, Adapt2 will be working with Tri-State and the ISOs to finalize the implementation agreement and settle on a potential date to join the market, with a target of 2021.
“Entering a new energy market for enterprises can be a complicated process but Adapt2 has shown great efficiency by leveraging emerging technologies to accelerate the process allowing our customers to focus on business strategies that bring value to their own customers. By adding SPP WEIS and CAISO EIM to their operations, Tri-State is on the path to cleaner, lower cost energy and we are excited to partner alongside them to reap the full benefits of both of the markets,” said Jason Kram, Executive Vice President of Adapt2 Solutions.
Enabled by AI and big data, Adapt2 B2B is market tested to provide market participants across all North American ISO energy markets a strategic advantage with significant efficiencies. Most recently, Adapt2 collaborated with SPP customers to successfully upgrade to SPP’s Settlement System Replacement Project (SSRP) as part of their Accelerated Service level agreement.
Source: Company Press Release