HOUSTON, TX, June 21, 2004 (MARKET WIRE) — The Structure Group, an international software and consulting company providing integrated solutions for the deregulated energy industry, announces the release of its nMarketà¢â€ž- software product to support the New York ISO (NYISO) SMD 2 Market Trials exercises scheduled to begin June 21, 2004. Currently, three NYISO market participants will use nMarketà¢â€ž- New York during the SMD 2 Market Trials.
The SMD 2 Market Trials exercises are designed to provide market participants an opportunity to verify their ability to participate in the SMD 2 day-ahead and real-time markets, and interact with the NYISO’s new real-time scheduling system. The intent of the SMD 2 Market Trials exercises is to simulate the day-ahead and real-time markets by providing forecast information for each exercise day, allowing participants to submit bids and offers that mirror realistic system conditions. Structure’s nMarketà¢â€ž- New York SMD product successfully completed the upload/download portion of the SMD 2 Market Trials in May 2004 and fully supports the NYISO’s bidding interfaces for generation bids, virtual bids, demand bids and transaction bids as well as the capture of public market data and the estimation and verification of settlements.
“By successfully completing the upload/download portion of SMD 2 Market Trials and meeting our commitment to provide a version of our nMarketà¢â€ž- New York product prior to the start of SMD 2 day-ahead market trials, our NYISO clients are well positioned for participation in the SMD 2 Market Trials exercises,” Structure’s New York market intelligence manager Bob Furry said. “Our clients will complete market trials with confidence that they can successfully interface with the new market, gain insights that will help them optimize their operations under SMD 2 and make the transition seamlessly.”
The New York SMD market will include day-ahead and real-time energy, market-based ancillary services, virtual and demand bidding, financial transmission rights, internal bilateral and external transactions and an installed capacity market. Market participants will be eligible for uplift (make-whole) payments when ISO dispatch instructions do not allow generators to fully recover minimum generation, start-up and incremental operating costs. Location Based Marginal Pricing (LBMP) will be utilized to manage transmission congestion and allocate losses.
“We see our New York SMD product launch as the evolution of our commitment to provide solutions to our customers in all North American markets,” Structure principal Lelon Winstead said. “Our current nMarketà¢â€ž- New York product will continue to support the existing NYISO market rules while we develop the New York SMD version in parallel. This parallel development approach worked well for our 15 nMarketà¢â€ž- customers in New England and made a strong statement about the functionality, reliability and flexibility of our solution.”
About The Structure Group
The Structure Group is a leading provider of energy trading business solutions and consulting services to market participants in North America and Europe. Structure has experience working with top-tier organizations in all stages of the energy value chain. Structure introduced nMarketà¢â€ž- to assist energy organizations with the bidding, scheduling, dispatch and settlement of energy trades and ancillary services in regional power markets. Power marketers who participate in the California, ERCOT, Midwest, New England, New York, PJM and Ontario markets are currently using the product. For more information about The Structure Group, visit www.thestructuregroup.com or contact us directly at [email protected].
