Molecule Add-On “Elektra” Strengthens Power Traders’ Only Modern ETRM Option
Molecule, the most advanced cloud-native software for Energy Trading and Risk Management (ETRM/CTRM), will launch its new power markets package, Elektra, in January 2021.
HOUSTON, TX – 12 November 2020 – Molecule, the leader in cloud-native ETRM/CTRM software, announced that they will launch a new add-on package – Elektra – in January 2021. Elektra will provide new and upgraded functionality for companies trading power. End-of-day Locational Marginal Pricing (LMPs) and other electricity pricing data will be included as part of this add-on.
Elektra will help power producers manage their complex portfolio of generation, fuel, and everything in between, by offering ISO connectivity and an array of power-specific block conversions – in addition to automating position and P&L.
Power trading is particularly complex because power cannot be stored and because there are multiple sources such as coal, nuclear, gas, and renewables like solar and wind. It is further complicated by the existence of dozens of instruments (such as FTRs, virtuals, PTPs, and more) and shapes (peak, off-peak, super-peak, round-the-clock) for each of the thousands of nodes across North America. To ensure proper hedging, power traders need access to near real-time data as they hedge positions in the real-time and day-ahead markets. The complexity of the power market means that software built for a different commodity, for example oil, would not have the functionality power traders need.
“Molecule was born in power, and by packaging what we do best—and adding to it—we can help our customers transition to the most important energy source of the 2020s,” said Molecule CEO, Sameer Soleja. “Recently, lots more trading firms have been interested in adding power to their trading portfolios.”
Molecule is partnering with NRGSTREAM to provide power prices within Elektra.
“As an industry leader in real time market information and data solutions for power trading, NRGSTREAM provides a complementary service to Molecule’s leading-edge Elektra solution” said, NRGSTREAM EVP Marketing, Kevin Sebastian. “With the integration of real time and historical market data from NRGSTREAM, Molecule customers will benefit from a best in class solution tailored to the demanding requirements of power traders.
Molecule is a small, focused team of about a dozen people – and serves large and small companies around the world, with their model of no-charge implementations and world-class user experience, and a goal of “Zero Customer Surprises.” Because most other ETRM/CTRM products are on-premise implementations, upgrades tend to be large, complex projects—whereas Molecule releases nimble, transparent upgrades multiple times per month.
About MoleculeMolecule is the leader in cloud-native ETRM/CTRM. We make reliable, easy-to-use SaaS software for commodity traders, risk managers, and operations teams at hedge funds, marketers, hedge advisors, IPPs, and world-scale energy and PE firms – in power, gas, crude, refined products, chemicals, and agricultural products. Our customers can go home earlier because Molecule automates routine tasks and complex position, P&L, and risk calculations. Learn more about Molecule at molecule.io.
About NRGSTREAMNRGSTREAM is a leader in real time energy market information solutions for energy trading. We consolidate energy market information and combine it with leading edge services to deliver a complete market intelligence solution. Our customers are more efficient and productive with our user-friendly solutions and comprehensive real-time and historical coverage of North American energy markets. With over 20 years of industry experience and unbeatable market coverage, energy professionals are leveraging NRGSTREAM services to achieve their competitive advantage in today’s markets! Learn more at www.nrgstream.com.
Phone: +1 832.464.4037