The last quarter of 2023 is officially here – I know, we can’t believe it either. It’s certainly been an interesting summer in the world of energy:
- During this summer's extreme heat, the Texas power grid grew increasingly reliant on renewables, with renewable energy accounting for 24.69% of the power generation one day in August.
- After ERCOT paid a record amount to a Bitcoin miner to free up energy for the grid during peak summer demand, some suggest AI computing and renewable power may be the answer to grid flexibility and these energy-intensive data centers.
- Oil prices hit their highest level of the year.
Here’s what we’ve been up to at Molecule the past few months.
NEW ADDITIONS TO THE MOLECULE TEAM
We’re continuing to grow our Customer Success team to ensure we provide best-in-class implementation and support, adding new project managers and implementation specialists. We’re also expanding our sales and IT teams with new hires this past quarter.
OUR ETRM/CTRM PRODUCT ROADMAP
NEW PRODUCT LAUNCH: BIGBANG, A DATA LAKE PLATFORM ADD-ON TO MOLECULE
We recently announced the launch of Bigbang, a new data-lake-as-a-service solution for Molecule customers.
Want to learn more about Bigbang? Check out “Transform Your Energy Trading Analytics with Bigbang” to discover the benefits of adding a data lake to your data management strategy.
With Bigbang, you can get direct access to your Molecule data to perform complex, time series-based queries. Stream your valuation and market data from Molecule in near real-time, merge it with other sources, and unlock more efficient querying and meaningful insights.
MOLECULE’S Q3 ETRM/CTRM SYSTEM UPDATES
We’ve released five system updates to customers in Q3. Over the quarter, we’ve continued to optimize the application and make progress with our European power features.
Here are some of the major takeaways:
- Added new European power markets and cascading frequency support
- Updates to Enterprise customer test environments
- Added support for valuing inventory positions with formulas
- Added decay functionality to exposure reporting
- Performance enhancements, particularly on curve uploads
ANNOUNCEMENTS + EVENTS
It’s been a busy quarter for the Molecule team! Here’s what we’ve been up to.
MOLECULE RANKS IN TOP 15 OF THE 2023 CHARTIS ENERGY50 REPORT
The 2023 Chartis Energy50 report listed Molecule in its top 15 of leading technology providers in the energy sector. The top 15 distinction comes after Chartis named Molecule a Rising Star in their RiskTech100 report in January.
"Molecule’s risk and trading platform, featuring cross-asset support and support for a range of energy futures & options markets, makes the company a strong player in the Energy50." - Sid Dash, Chief Researcher at Chartis.
ICYMI: MOLECULE HOSTED A WEBINAR ON DATA MANAGEMENT BEST PRACTICES
In August, Molecule hosted a webinar with Commodities People titled, “Sink or Swim: Making Data Lakes A Central Pillar of Your C/ETRM.” We were joined by experts around the energy trading industry to discuss the importance of data interoperability, how to better manage data with modern technology, and data security best practices.
If you weren’t able to make it, you can watch the recording of the webinar here.
JOIN US IN HOUSTON FOR ENERGY TRADING WEEK AMERICAS
Molecule will be the Lead ETRM/CTRM Partner at Energy Trading Week Americas this October. The conference takes place in Molecule’s home city of Houston, October 26th and 27th!
Stop by our booth, grab some Molecule swag, and catch our founder and CEO, Sameer Soleja's panels:
- On Thursday, October 26th, at 9:50 AM, Sameer will be speaking on the panel, What will the trading shop of the future look like?
- On Thursday at 2:00 PM, Sameer will be discussing how a change in ETRM systems revolutionized Delta Airlines’ reporting and business processes with Delta’s Manager of Financial Risk and Fuel Credit.
- Following Sameer’s panel with Delta, stick around from 2:30-3:15 PM to explore how systems are evolving to meet today’s market needs. Sameer will be joined by ETRM Systems Manager Hunter Heldt, IT Director Jose Noyes, and Senior ETRM Project Manager Thomas Fennesy.
In addition to Sameer’s panels, you’ll have the opportunity to attend a variety of other insightful discussions and network with hundreds of industry experts and professionals. The event offers four content tracks:
- The Energy Trading Risk Summit
- Trading Digitalization
- Renewables and Battery Storage Market Dynamics
- Plenary Sessions with Senior Executives
You won’t want to miss it – register today!
Here’s wishing you a successful final quarter of 2023, and hey - let’s be careful out there!