EnBW moves GoO Trading Operations onto ChorusLink
Zug, 02. March 2021: ChorusLink announced today that EnBW Energie Baden-Württemberg AG has gone live with the ChorusLink Common Trade Repository for its trading operations in Guarantees of Origin (GoO).
With ChorusLink, EnBW has deployed a modern, innovative and highly flexible solution in order to benefit from the opportunities of a rapidly evolving market by:
- Capturing and managing all varieties of GoO trades, including all applicable constraints and optionality
- Easily tracking all certificates by transfer date
- Processing both relatively standardized trades as well as Full Offtake / Pay-as-produced trades with constraints and optionality
As EnBW’s trading counterparties also join the ChorusLink trade repository, the platform will additionally provide features such as:
- automatic trade matching
- automatic settlement
ChorusLink is the first component of EnBW’s new solution for GoO trading and trade processing. Next steps will add enhanced capabilities for valuation and reporting and introduce additional features around optimisation and process automation.
Sami Madani, Head of Risk, Finance and Gas at EnBW Trading IT, said:
“We recognize the potential of the innovative approach of ChorusLink and Previse Systems, and we are happy to set this first milestone with a next generation ETRM. Following this path, we ensure a modern and effective way to support our business.
Previse Systems has quickly earned a solid reputation within EnBW as a responsive and reliable partner. The speed of delivery and reliability will enable a successful partnership.”
Björn Maier, Responsible GoO Trader at EnBW, said:
“With the implementation of ChorusLink as an integral part of our IT landscape we are setting an important milestone towards making our renewable certificates business much more efficient and scalable.
We see significant benefits not only in improved internal process interfaces between front and back office, but also for the interaction with our external contact points, where ChorusLink allows full automation, in perspective, of the whole confirmation and settlement process between the counterparties. With a growing ChorusLink community, we look forward to a parallel growth in efficiency and automation of certificate deals processing.”
Asbjørn Hansen, Managing Director of Previse Systems, said:
“It has been a great privilege and pleasure to work together with the experienced and knowledgeable people at EnBW. EnBW’s go live is a big leap for Previse Systems and we are very proud of the trust EnBW put in us and our software.”
About EnBW Energie Baden-Württemberg AG
EnBW Energie Baden-Württemberg AG is one of the largest energy supply companies in Germany and supplies electricity, gas, water and energy solutions and energy industry services to around 5.5 million customers with a workforce of more than 23,000 employees.
We aim to strengthen our position as a sustainable and innovative infrastructure partner for customers, citizens and local authorities to an even greater extent. The repositioning of the company with a focus on renewable energies and smart infrastructure solutions is a key component of our strategy. Half of the EnBW generation portfolio will be comprised of renewable energies by 2025.
About ChorusLink
ChorusLink AG is a Swiss software company introducing a new paradigm for trade data storage and management in European energy markets.
ChorusLink sees its purpose in spearheading a change of paradigm for energy trading software. Thinking ongoing trends in energy markets and technology platforms one step further ChorusLink follows the vision of a common platform for energy trading data. This conceptual quantum leap facilitates process efficiencies, optimises investment returns on IT spending and fosters future infrastructure adaptability on an unprecedented level.
About Previse Systems
At Previse Systems, we fundamentally reshape the way Energy Trading and Risk Management (ETRM) software is designed, implemented and operated. We offer a highly performant SaaS solution for European electricity, natural gas and certificates trading – combining modern software architecture with the latest available tools and technology.
As a conceptual innovation, we build on the notion of “community”, with an infrastructure for energy companies to leverage synergies through collaboration in the IT domain. The goal of this is simple: better software, faster and at lower cost. We create software without any legacy burden. Our data structure follows accepted market standards, which drives easy and fast data migrations, and is also a core factor of strong system performance.
With Previse Systems, energy companies are well equipped to master the challenges of a fast-evolving environment.