Staying on Top of the PJM Market with Innotap
With billings in its administered markets totaling more than $110 billion since the regional transmission organization (RTO) opened in 1997, the Pennsylvania-New Jersey-Maryland Interconnection (PMJ) is the world’s largest competitive wholesale electricity market. The PJM energy market is located in a part of the country where the unpredictability of seasonal weather patterns can upend forecasts and predictions in a nanosecond. For energy traders, that requires access to data and market models that draw on the latest data, predictive algorithms, and organizational interface options available in Innotap software.
According to the PJM market, with its more than 900 market participation members in its markets across all or parts of 13 states and the District of Columbia, it generated $1.12 billion in profits for traders within PJM Interconnection LLC’s market in the mid-Atlantic and Midwest in 2014. That’s more than triple 2013’s total, according to the operator.
Energy traders involved in virtual bids, Financial Transmission Rights, and Up-To-Congestion products require access to more than historical data covering demand, weather, natural gas prices, tie flows, and outages. They need current and predictive data on the changing mix of coal, natural gas, oil and innovative energy generation technologies in this massive market. By providing data that is comprehensive while allowing for infinite flexibility in terms of structuring and aligning that data on a granular level, Innotap PJM market software enables traders to use their best judgment on market movements in real time.