Itron’s Advanced Settlement Module Provides High Granularity, Industry-Leading Integration and Complete Energy Market Coverage
Advanced Module Provides Visibility into the Entire Energy Market, Addresses Complexities from Distributed Energy Resources
Energy settlements – the process of capturing and reconciling energy generation and consumption, both at the wholesale and retail levels – play a crucial role in the energy market where energy is traded. As this market evolves, it is essential to quantify energy generation and consumption within specific intervals and reconcile disparities between the energy generated and the energy consumed. Various entities, including power plants, hydropower companies, nuclear facilities, commercial wind and solar operations, generate energy while utilities, businesses and municipalities consume it. Itron’s IEE Settlements collects measurements from generators, consumers and forecasted load all in a single module to help streamline reporting for utilities.
As part of the IEE suite, the newly launched module seamlessly integrates with a utility’s meter data management system to gather and process interval data, ensuring precise and timely data compilation as well as capture and submission to market operators. The integration of energy consumption and generation data from DERs facilitates compliance with regulatory requirements to include all energy players in the Settlement process and aligns with the goals of the Federal Energy Regulatory Commission Order No. 2222, which promotes DER involvement in regional electricity markets in the
IEE Settlements joins the powerful IEE MDM platform as a leader for granular settlements across three continents, meeting the most advanced deregulated market settlement needs for consumers at scale. Itron’s IEE Settlements offers a suite of key features benefiting utilities, including:
- Real-Time Data Integration – The module seamlessly integrates with a wide range of data sources, allowing utilities to access and analyze real-time energy market data.
- Automated/Auditable Settlement Calculations: IEE Settlements automates the entire settlement process, ensuring accuracy, traceability and reducing errors.
- Customized Reporting: Ability to generate custom reports and analytics to help gain a better understanding into the utility’s market activities, helping them make informed decisions.
- Scalability: From small enterprises to large organizations, IEE Settlements helps to scale the needs of the utility and accommodate settlements of any size.
- Regulatory Compliance: Utilities can stay compliant with the evolving energy market regulations and standards with IEE Settlements’ built-in regulatory features.
- Enhanced Security: The module incorporates robust security measures to protect sensitive information.
“The newly launched IEE Settlements module addresses crucial challenges facing aging infrastructure and the utility settlement market. The innovative design of the module helps to address the complexities of distributed energy resources with a solution for utility companies, renewable energy providers, independent power producers and large-scale energy consumers,” said
To learn more about IEE Settlements, visit the IEE Customer Resources page.
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
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