Powel Settlement supports players in the power sector with the process of compiling obligations (planned values, forecasts, metered values and bilateral trade) and calculating the imbalance. Using a calculation engine, it is possible to verify that the imbalance settlement from the imbalance settlement responsible (eSett OY in the Nordic region) is correct for the balance responsible party.
“To support the settlement process, we use a structure tool that registers the validity period of all the obligations for each balance responsible party. Based on the obligations, we use a calculation engine to calculate imbalances and other values that the customers need. This provides a better overview and saves time in the event of changes to obligations,” says Birger Morland, Product Manager at Powel.
The unique thing about Powel Settlement is that it is configurable.
Italian energy giant Enel buys software from Powel to increase the revenues from power generation. Powel is the largest software company within industrial IT in Norway and has expanded its business in the European energy sector strongly during the last decade.