Cost Effective Solution for Electricity Transmission
SCAND development team created an effective solution for auctioning of electricity transmission quotas between traders anonymously.
SCAND development team was asked to create a software solution that would allow to get clients requests in an optimal way, provide matched inquiries and show the results. One of the challenges was to develop a solution able to collect data in a secure way without disclosing end users. Another challenge was to process a big amount of data received from clients and third-party systems and use it in further calculations without spending much effort and time.
To deliver a high-quality product with the required functionality, our development team used the following approach:
- Accumulating all calculations and formulas in a specially developed tool;
- Development of the core component that could solve linear programming problem describing quotas optimization area;
- The high level of security was ensured by creating an application that can be used by one single client and/or a bunch of clients ruled by a super-admin.
How It Works
The main feature of the Solution is the reduction of electricity transmission cost by eliminating the need to book capacity. The service allows traders to find swap partners online and to optimize their capacity bookings.
The solution analyses all capacity booking requests received from clients, takes prices and tariffs from available sources (including open sources), and calculates the most cost-effective option for electricity transmission.
The solution consists of a combination of multiple trade deals and optimization of the remaining capacity bookings.
The solution we developed has the following functionality:
- Analysis of all capacity booking requests received from clients, takes prices and tariffs from open sources and calculates the most cost-effective option for electricity transmission.
- Clients anonymity.
- The solution is a combination of web and desktop applications working with the API provided by the platform hosted in cloud.
- Data analysis tool that shows the volume of flow data of all world markets and electricity storage facilities combined on one map. It also allows scenario building, filtering and compilation of data reports.
SCAND development team created an effective solution for electricity transmission between traders anonymously.
The main feature of the solution is the reduction of electricity transmission cost by cutting the need to book capacity and avoiding the necessity to move physical electricity. The service gives traders an online opportunity to find swap partners and to optimize their capacity bookings and as the result brings cost savings.