WESTPORT, Conn., Jan. 22, 2003 -- Triple Point Technology on Wednesday announced the launch of a California ISO Module for Power XL, a next-generation trading system for electricity markets worldwide.
The new software and service is designed to streamline, automate, and simplify mid- and back-office functions for participants in California's electricity market. The California ISO solution is the first product offering to be fully MD02 Phase 1A compliant.
With the Power XL California ISO module, power schedulers use the Web to create schedules and bids for automatic submission directly to the ISO. The service ensures the schedules are balanced and the bids are validated. Based on final schedules, uploaded meter data and dispatch instructions, and public market information available through OASIS, the service provides shadow settlements with the necessary supporting details to substantiate disputes.
The California ISO module for Power XL is available as licensed application software or as a hosted solution through Triple Point's Energy Crossroads application service provider (ASP).
Peter F. Armstrong, Triple Point Technology president, said, "The ASP business model enables organizations to use sophisticated software applications without the up-front investments and maintenance required when a company licenses and installs similar software on-site. Additionally, Triple Point maintains all upgrades, including the management of future MD02 compatibility changes within the system."
With the California ISO module, schedulers have the ability to create and submit supplemental bids, record real-time dispatches, and monitor real-time prices and imbalances. During settlement, the software will automatically compare system-calculated charges with ISO settlement values, provide a basis upon which to dispute ISO statements, and track existing disputes.
About Triple Point Technology
Headquartered in Westport, Connecticut (U.S.A.), Triple Point Technology operates worldwide, with London and Singapore serving as international hubs. Triple Point is a major provider of commodity trading systems recognized by traders, CEOs, and CFOs at more than 70 multinational energy, power, and financial services firms including: Cinergy, City of Anaheim, Morgan Stanley, Duke Energy, PETRONAS, Koch Industries, Amerada Hess, and BP.
For more information about Triple Point, visit the Web site at www.tpt.com.