King of Prussia, PA — May 20, 2014 — Innotap, the leading provider of realtime decision support apps for energy and commodity traders, has today announced plans to extend its support for the CAISO market (see PRWeb release).
California is experiencing climate changes with hotter temperatures and prolonged drought conditions that can cause sudden weather swings which are nearly impossible to predict. Resulting wildfires cause transmission lines to be deenergized, and low snowpack and lack of water limit available hydro resources. This creates significant challenges to effectively manage the electricity grid in this region.
“As a result, volatility in realtime electric markets is inevitable,” said Joe Mac Crory, VP of Innotap. “ Weather forecasting and day ahead modeling are essential tools for power marketers. But without a high performance realtime tool, you’re missing half the picture.”
To better serve its customers in this market, Innotap is evolving its current CAISO Realtime set of apps while working on new analytics capabilities. Jeff Foose, Managing Member of Aeris Capital LLC and Strategic Advisor to Innotap, said, “Our customers consistently tell us that our RealDeal Dashboards is the best platform to support their realtime power analytic needs.”
“When Innotap’s new enhanced analytics platform is made available, our users will have an even greater competitive advantage in volatile markets.” These users trade CAISO financial products on the IntercontinentalExchange (NYSE:ICE) (Atlanta, GA) and CME Group (Chicago, IL).
The most recent feature added to Innotap’s CAISO offering includes support for the new Fifteen Minute Market (FMM) Locational Marginal Prices (LMPs) mandated by FERC Order 764. Concurrent with the CAISO FMM on May 01, 2014, Innotap released its new CAISO — FMM LMP app to assist its customers in realtime decision making. Mac Crory commented, “FMM has made the CAISO market more flexible and allows traders to take advantage of realtime price movement that would not be there otherwise.”
Ron Swartz, Founder and CEO of Innotap, said, “Innotap is demonstrating its leadership in this ever changing realtime market. To meet with our customers and other CAISO market participants, we’re sponsoring the Infocast 2nd Annual California Energy Summit in San Francisco this May 28-30, 2014.”
Anne Marie Magness, Innotap’s Operations and Business Development Manager, added, “While there, we will have a full running demo of our RealDeal® Dashboards and PowerFeed® for Excel®, and look forward to meeting all interested parties.”
Innotap invites energy traders to request a demo so they can experience firsthand the power of its software services. Please visit www.innotap.com/new.
Contact: Anne Marie Magness, 610.783.0312, [email protected]
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