Authored by Karita Licio, Senior Customer Success Manager, REsurety
Senior Customer Success Manager
The main objective of Customer Success at REsurety is to be a reflection of client needs for the rest of the organization. We recently expanded our CleanSight products and services into Europe as a direct result of clients telling us what they need, REsurety responding to meet those needs, and in the process we uncovered details that will further support our customers in managing portfolios in new and evolving markets.
Our experience as vPPA experts in the U.S. has set us up for success here. Because we help clients manage over 250 contracts, we’ve started keeping a close eye on some of the things that we know will also impact portfolio management in Europe.
One of our first priorities for supporting our clients’ European projects was enhancing our global generation modeling capabilities. We also now make historical observed power prices accessible to our clients in markets around the world. Together, these critical data sets provide a means for keeping track of settlement and auditing in Europe. We’ve also heard from clients that being able to compare what was forecasted to how settlement and performance actually shapes out helps them to become more accurate in forecasting and shaping future procurement strategies which is arguably more important than ever at this point in time. Historical prices and the context around settlement that our team of experts provide is an important leg in the portfolio management stool but we know there’s even more to it. Our work has not stopped there.
So far, we’ve successfully navigated the major changes to required European Market Infrastructure Regulation (EMIR) reporting, one of the first steps in managing a European PPA. Customers with European PPAs must now populate up to 174 data fields per transaction and submit the data in XML format to a registered trade repository. In addition to the Dodd-Frank compliance reporting we already provided to clients in the U.S., REsurety is excited to announce that we can now also submit required data for customers’ European PPAs to a registered trade repository to maintain EMIR compliance on their behalf.
We’re also closely tracking the upcoming change in the European Network of Transmission System Operators for Electricity (ENTSEO) market price resolutions. In an effort to enhance market efficiency, European markets are implementing a 15-minute Market Time Unit (MTU). While this change is designed to create grid stability, there will be impacts to existing contracts and how projects manage invoices. Many contracts, for example, specify settlement as being hourly – leaving ambiguity about how to handle the new 15-minute prices. Our auditing team is prepared to find discrepancies in settlement calculations and navigate contract language, and we’ve been notifying clients to begin discussions with developers to understand how different counterparties will be managing this change.
As things evolve, REsurety’s Customer Experience team, our meteorologists, and market experts are here to listen and help you pave the way for a clean energy future. If you’ve been getting questions about EMIR compliance, how your European assets are performing, or want to ensure settlement accuracy as price intervals change, then you’re in the right place. Please reach out to our experts, we’re here to make managing a global portfolio truly easier.
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