Berlin, 13 October 2020 – The PSI Energy Markets GmbH has successfully put the energy trading and risk management system PSImarket into production at the RheinEnergie Trading GmbH. The scope of services focuses on trading functions and portfolio management as well as risk management for electricity and gas. PSImarket thus replaces the previous legacy system.
For RheinEnergie Trading (RET), flexibility and performance are essential for energy trading and portfolio management. With the broad functionality, advanced software technology and extensive configuration options of PSImarket, business processes can now be mapped faster, more flexibly and more cost-effectively. The migration of the data available in the old system was carried out completely and smoothly with the help of the tools available as standard in PSImarket. The active involvement of the customer's employees and PSI's approach, which has been proven in many projects, ensured the successful completion of the project.
Matthias Herth, project manager for the introduction of PSI at RET, explains, "RheinEnergie Trading has very extensive functional and high performance requirements for the ETRM software. These requirements could be fully mapped with PSImarket, whereby RET has achieved a significant simplification of the application landscape and improvement of the work processes".
Pitt Söker, Head of Data and Requirements Management, adds, "Given the complexity and scope of the project, extensive challenges were to be expected. Thanks to the intensive cooperation between the teams at PSI and RET, the project was completed on schedule".
RheinEnergie Trading GmbH is a wholly owned subsidiary of RheinEnergie AG and is used by the latter and its partners as a central market access point. The company also offers its services in the purchase and trading of energy and energy-related products to external customers in the Rhineland region and throughout Germany.
Based on its own software products, PSI Group develops and integrates complete solutions for optimizing the flow of energy and material for utilities (energy networks, energy trading, public transport) and industry (metals production, automotive, mechanical engineering, logistics). PSI was founded in 1969 and employs 2,000 persons worldwide.