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Salzburg-based energy equipment and solutions provider FlexPowerHub and Aachen-based IT specialist KISTERS have announced a joint, fully automated solution for participation in the balancing energy market.
The solution, says KISTERS in a release, can be used by BESS operators and municipal utilities to tap into additional revenue potential and pass on bidding strategies to their marketers.
According to KISTERS, to profitably market their flexibility, operators of generation plants, storage facilities, and controllable loads require short-term and precise forecasts, individually adaptable trading strategies, and smooth technical processes.
This is where the collaboration comes in, creating a fully automated solution for the balancing energy market, as well as a digitalised process chain – from forecasting and flexibility assessment to submitting bids to the transmission system operator.
The KISTERS software platform for the energy market consolidates and analyses all relevant data on schedules and marginal prices from a wide variety of generation plants. Based on this data, FlexPowerHub’s bid generator calculates fully automated, AI-supported bids based on individually configurable strategies.
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Commenting in a release was Martin Simmerstatter, managing partner at FlexPowerHub: “We are democratising the balancing energy market through this technological partnership.
“BESS operators and municipal utilities can now profitably integrate their systems and tap into new revenue streams without extensive human or financial resources. Or they can submit their own optimized bids to their major marketers.”
According to KISTERS, based on the latest AI-supported processes, the solution calculates expected price and expected delivery quantity every 15 minutes.
These precise forecasts, they add, enable greater planning reliability, exploitation of market advantages, and higher revenues.
Additionally, automatic backtesting allows the evaluation of strategies based on historical data and offers opportunities for detailed market analyses. Real-time data and intuitive dashboards provide a transparent overview of flexibility, market, and revenue data at any time.
KISTERS’s portfolio for the energy industry includes software for energy data and portfolio management, metering and meter point operation, energy trading and sales, forecasting, virtual power plants, and smart grids/control technology. More than 750 companies from the energy industry use KISTERS software.
FlexPowerHub is a software solution for the automated marketing of flexibility for all asset types in the balancing energy sector. Modules such as a bid generator, AI-supported forecasts, auto-bidder, dashboards, and backtesting functions enable flexible participation in the energy market.
