The tender relates to delivery and implementation of an ETRM system to the following company:
HOFOR A/S
Ørestads Boulevard 35
DK-2300 København S
HOFOR A/S – or Greater Copenhagen Utility – is the largest utility in Denmark and is supplying a number of services to the wholesale markets, including power and heat production. HOFOR A/S is owned by the City of Copenhagen (the Capital of Denmark).
HOFOR A/S representing HOFOR Energiproduktion A/S (“HEP”) and HOFOR Vind A/S (“Wind”) is currently in the market for an energy trading and risk management (“ETRM”) system for handling the market risk associated with their energy production.
HEP owns and operates Amagervaerket, a large power plant located in Copenhagen. The plant consists of a backpressure pellet-fired unit and a condensing coal-fired unit; approximately 550 MW total load altogether. A biomass-fired unit is under construction; expected in production from 2019. This unit will replace the coal-fired unit.
In addition, Wind owns a small but expanding wind power portfolio of 60 MW installed capacity.
Thus, HOFOR is exposed to energy prices, including Nordic power, coal, carbon, biomass, oil and USD (from coal, oil and partially from biomass). To manage this exposure, HOFOR has established traditional front, middle and back office functions; has developed excel-based trading and risk management tools complemented by databases; and is a market participant on e.g. Nasdaq Commodities and ICE Futures Europe. Traded products are financial derivatives; some with delivery (Carbon and FX).
Further information about HOFOR can be found on our web page: www.hofor.dk.
Scope of the Assignment
In relation to the portfolio of energy production, the ETRM-system should be able to handle:
•Nordic power (financial products): System and EPAD products
•Coal (financial products): API#2
•Carbon (physical and financial products): EUA
•Currency: USD, EUR, DKK
•Biomass (physical products): pellets and chips
In addition, the ETRM system’s functionality should include:
•Trade capture
oAutomatic trade capture from Nasdaq and the ICE.
oCapture of all positions and trades in books;
oHandling both physical and financial products (physical power not included).
•Book and Position management
oManagement of positions in books and portfolios;
oAggregated position management with portfolios split between books.
•Back Office trade validation
oConfirming trades with counterparts;
oManage trades in relation to editing.
•Value calculation for portfolios and books
oCalculation of market value based on traded prices, market prices, and modeled prices
•Reporting
oReporting P&L, MtM, counterparty risk and positions based on realized and unrealized trades
oExternal reporting according to regulatory requirements (EMIR)
•Integration with HOFOR price database
oAutomatic import from HOFOR’s sql database
•Market price modelling
oAbility to model imported prices into a forward curve (ex. based on indexes)
Please forward WRITTEN questions regarding the application to the contactperson at the latest july 18th 2017