Verbund introduces electricity trading software

20 November 2003 – Austrian electricity company Verbund and team4e, have developed a new software package for electricity trading. The prototype of the CMS P2P (electronic confirmation matching system – peer to peer) is called Enerbility.

The system is based on the European electronic communication standard defined by the EFET IT Task Force (European Federation of Energy Traders). The IT Division of Verbund (VMSG) as the head of the EFET IT working group took a major part in the development process.

After six months of development team4e and Verbund introduce their new product, called Enerbility, to the European electricity market. Verbund said that the product will streamline business transactions, regarding printing, faxing and checking confirmations between energy traders and will out of that save time and money. Prerequisite from the legal side is a trading agreement (e.g. according to the EFET standard agreement) between the trading counterparts.

Enerbility is an electronic confirmation and matching system that makes it possible for all energy companies to exchange their trade confirmations via internet. Technologically it is based on XML as data exchange format and the principle of peer to peer communication. That means that every company sends and receives electronic trade confirmations to and from the other counterpart, not involving a central point which receives and redistributes messages.

The prototype of Enerbility has already been tested by Verbund and it’s trading partners E.ON, Atel and Statkraft very successfully. Data was transferred through Europe via internet with a special focus on data security.

The main features are:
– Electronic confirmation exchange based on simple internet protocol HyperText Transfer Protocol (HTTP)
– Security based on Secure Socket Layer (SSL) and message exchange design
– Graphical interface for status reporting
– Open interface for integration of data exchange with ETRMs
– Easy set-up process of new counterparts to exchange confirmations with via a graphical interface