Thomson Reuters (NYSE:TRI) has launched a new app on its flagship desktop platform, Eikon, which provides energy traders with comprehensive analysis of the intraday European power market. The tool helps energy companies manage their delivery commitments efficiently by generating intraday predictions for price drivers on the European Power Exchange (EPEX).
The launch of the app follows yesterday’s announcement that the company had made a move toin some of the world’s most active hubs to help foster improved pricing measures and market access for foreign exchange participants.
Market participants can make better-informed trading decisions quickly in fast-moving short-term markets.
The service works by combining supply and demand forecasts with translated REMIT messages and up-to-the-hour weather forecasts to provide the consolidated analysis that enables market participants to make better-informed trading decisions quickly in fast-moving short-term markets.
Using innovative visualisation techniques to provide users with a single view of near to real-time updates and forward forecasts of renewable energy fundamentals, the app provides an intuitive display of the current state of the power market at any given time throughout the day.
In addition, the app constantly updates the supply and demand forecast for the next 48 hours, immediately quantifies the impact of any change to available capacity as REMIT messages are received and provides users with the real time EPEX intraday prices they need to make well-informed decisions.
Leigh Henson, global head of energy for commodities at Thomson Reuters, commented: “European energy companies perform a daily balancing act to ensure they can meet the power requirements of their customers. Their success depends on being able to make well-informed decisions quickly. We are committed to simplifying these complex tasks for our customers so that they can focus their time on the higher value activities.”
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