September 25, 2024 – Hansen Technologies (ASX:HSN), a global provider of software and services to the energy & utilities and communications & media industries, is pleased to announce a further expansion of its long-term partnership with Swedish energy company Mälarenergi. Exploiting the fully modular capabilities of Hansen Trade, Mälarenergi will utilise the platform to operate across all physical trading marketplaces in Sweden. This expansion builds upon Mälarenergi’s initial deployment of Hansen Trade for Intraday Trading and a subsequent expansion to implement the Power Market Analytics capability.
Immediate Trading Improvements with Hansen
As an early adopter of Hansen Trade, Mälarenergi realised immediate benefits by changing the nature of daily trading operations; instead of spending precious time studying charts, formulating trading strategies, or placing orders, traders could now focus on creating additional value. Crucially, the automation of Intraday trading has improved Mälarenergi’s trading performance, delivering a positive VWAP – volume-weighted average price, a key metric for financial performance – and this means Mälarenergi is, on average, trading better than the market.
Mälarenergi Anticipates Further Benefits with Expanded Use of Hansen Trade
Mälarenergi is switching to Hansen Trade for Ancillary Market solutions to complement its power market operations. The Hansen Trade Regulating Power module automates bidding and activation request handling for mFRR transactions, and the FCR module automates bidding and trade result handling on a detailed level; as with the other Hansen Trade modules, the FCR module supports the current EDIEL-based bidding communications and is ready for the change to ECP.
Additionally, Mälarenergi is implementing Hansen’s Day-Ahead Trading and Intraday Auctions modular capabilities. These further expand and optimise trading process optimisation across key market segments, streamlining bidding processes to the point of complete automation, and with trade results presented at the asset level, the need for post-trade processing is minimised.
Finally, the Hansen Trade Customer Portal module enables Mälarenergi to automate communication between the trading desk and other clients, like power plant control rooms. The Customer Portal automatically communicates production plans, trade results, and, for example, mFRR activation requests to end clients.
Björn Lundkvist, Head of Trading at Mälarenergi, commented: “We are excited to expand our collaboration with Hansen. Their Intraday trading solution has already proven its value to our team, and these new additions will further improve our performance. Their technology will provide us with the tools needed to stay agile, boost our efficiency, and enhance our asset management as the physical markets continue to evolve.”
David Castree, President Energy & Utilities at Hansen, commented: “Mälarenergi and Hansen have been collaborating on energy trading for some time now, and it’s great to see that they continue to see the value of our solutions, so much so, that they are significantly expanding their usage. We all know the market is challenging: it’s a never-constant target, and the masses of data sometimes cloud the real issues. That’s why it is important to separate insights from information and distinguish between true quality and mere quantity. That’s the value that Hansen Trade delivers, and it is reassuring that innovators like Mälarenergi also know this.”
Part of the Hansen Suite for Energy & Utilities and delivered as a modular, Cloud-native SaaS solution, Hansen Trade defines best practices for satisfying the flexibility and scalability demands of the evolving energy-trading market.
For further information about Hansen Technologies, please visit www.hansencx.com.
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About Hansen
Hansen (ASX: HSN) is a leading global provider of software and services to the energy & utilities and communications & media industries. With its award-winning software portfolio, Hansen serves customers in over 80 countries, helping them to create, sell, and deliver new products and services, manage and analyse customer data, and control critical revenue management and customer support processes.
For more information, visit www.hansencx.com
About Mälarenergi
Mälarenergi is an infrastructure service company with more than 700 employees. The company is located in Mälardalen and delivers electricity, heating, water, cooling and speedy communication solutions with associated services. Mälarenergi offers energy-efficiency services to regional corporate customers and sells electricity to private and corporate customers throughout Sweden. The city of Västerås owns the group and has approximately SEK 4,8 billion in sales. For more information, visit https://www.malarenergi.se
Contact:
Megan Rosier, Director, Corporate Communications and Marketing
+61 411 747471