Stem’s market bidding tool to enable leading global energy trader to quickly scale battery operations
SAN FRANCISCO–(BUSINESS WIRE)–Stem (NYSE: STEM), a global leader in AI-driven clean energy solutions and services, today announced that its Athena® PowerBidder Pro application has been selected by Mercuria Energy Trading, a leading global energy trader, to support bid optimization management for its first energy storage system (ESS) in Electric Reliability Council of Texas (ERCOT). Under this software-only contract, Mercuria will leverage PowerBidder Pro’s award-winning combination of configurability, cutting-edge analytics, advanced price forecasting and bid optimization, and seamless automation to develop customized trading strategies for its energy storage assets to participate in ERCOT, power supplier to more than 26 million customers representing approximately 90 percent of the state’s electric load.
“Stem is successfully operating assets in North American wholesale markets on behalf of asset owners. Listening to our customers, we identified a need in the market for a software solution that puts traders and asset owners fully in control of strategies while enabling scaling and automation,” said Cedric Brehaut, Vice President of Cloud Solutions at Stem. “We are excited to announce Mercuria as our first PowerBidder Pro customer. PowerBidder Pro layers and automates customized trading strategies on top of Athena’s industry-leading forecasting and optimization capabilities. We look forward to helping Mercuria drive portfolio returns and effective risk management in the ever-evolving ERCOT market, and in other markets in the near future.”
Cody Moore, Head of Gas and Power Trading at Mercuria, said, “With more than 20 gigawatts (GW) of renewable energy in our investments pipeline and our commitments to direct more than 50 percent of our investments into the energy transition by 2025, Mercuria is diligently working to ensure our renewable energy strategies are fortified with high-performing technologies and partners who can help us further optimize renewable assets. We are excited that Stem’s PowerBidder Pro application will fit into our traders’ existing workflows, allowing us to bring our differentiated knowledge of energy markets while leveraging Stem’s unique technology optimizing battery operations to create an ideal pairing of two best-in-class capabilities.”
Available on the Athena Platform, Stem’s PowerBidder Pro will offer Mercuria access to real-time performance metrics, industry-leading forecasts and analytics, and customizable configurations necessary to tailor trading strategies to ESS constraints, contractual obligations, and Mercuria’s unique risk management objectives and views on volatile market conditions. As Mercuria’s ESS portfolio grows to meet its energy transition objectives, PowerBidder Pro will offer a scalable solution designed to seamlessly manage trading strategies across its entire storage ESS portfolio, including across different ISO markets. With PowerBidder Pro, Mercuria will be empowered to drive returns and manage risk effectively.
In addition to PowerBidder Pro, Stem offers its world-class services to customers who need direct support in managing their assets. Stem’s energy experts provide operating services using PowerBidder Pro on behalf of our customers. With experience across 200,000 sites in over 50 countries, Athena and PowerBidder Pro bring together a market-leading solution.
Learn more about PowerBidder Pro at stem.com/powerbidder-pro.
About Stem
Stem (NYSE: STEM) provides clean energy solutions and services that are designed to maximize the economic, environmental, and resiliency value of energy assets and portfolios. Stem’s leading AI-driven enterprise software platform, Athena® enables organizations to deploy and unlock value from clean energy assets at scale. Powerful applications, including AlsoEnergy’s PowerTrack, simplify and optimize asset management and connect an ecosystem of owners, developers, assets, and markets. Stem also offers integrated partner solutions to help improve returns across energy projects, including storage, solar, and EV fleet charging. For more information, visit www.stem.com.
About Mercuria Energy Trading
Established in 2004, Mercuria is one of the world’s largest independent energy and commodity groups, revolutionizing the commodity value chain through technology, expertise, and low-carbon solutions. The company has firmly positioned itself as a leader in the energy transition, with over 50 percent of its new investments directed towards renewables and transitional energy. Mercuria has made substantial contributions to projects such as renewable power, energy storage, grid optimization, critical transition minerals recycling, and environmental products, showcasing its dedication to a sustainable future. www.mercuria.com.
Source: Stem, Inc.
Contacts
Stem Investor Contacts
Ted Durbin, Stem
Marc Silverberg, ICR
Stem Media Contact
Suraya Akbarzad, Stem
Mercuria Media Contacts
Matt J. Lauer
Benoit Lioud
The post Mercuria Energy Trading Selects Stem’s PowerBidder
Mercuria Energy Trading Selects Stem’s PowerBidder™ Pro to Optimize Market Operations in ERCOT first appeared on Web and IT News.
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