Exelon transitions to the cloud to streamline back office operations across multiple ISO markets
HOUSTON--(BUSINESS WIRE)--Adapt2 Solutions, a leading provider of AI enabled multi-market operations and trading software, today announced a new partnership with Exelon Corporation to transform and improve their legacy back-office system across all North American ISO markets. Backed by Adapt2’s cloud-based platform, the partnership allows Exelon to efficiently manage and scale their wholesale operations while leveraging the latest technology such as big data and artificial intelligence.
Interested in modernizing processes, adopting new technology and organizational agility, Exelon chose to replace their legacy back-office settlement system with Adapt2’s Bid-to-Bill (B2B) software on Microsoft Azure’s cloud for expedited settlement processes to keep current with market changes across all ISOs. Exelon’s wholesale operations will be fully implemented onto Adapt2’s platform with all North American ISOs by Q2 2020 with PJM Interconnection, Midcontinent Independent System Operator and ISO New England set to go live in Q1 2020.
“Looking to the future, it is critical for us to differentiate our business with product innovation and diversification,” said James Johnston, Director of Wholesale Operations, Exelon. “Ease of use and a repository of all of our data that we can quickly access in real-time were key factors in our decision to work with Adapt2 Solutions. We look forward to growing our business with technology solutions that can scale as rapidly as our business strategy necessitates.”
With an increasing importance of analytics and data management, a cloud-native solution allows energy companies to improve their organization’s ability to respond to ongoing market changes. ISO settlements and market operations as a whole continue to transform with more granularity with an increasing number of new markets like California ISO's Western Energy Imbalance Market (CAISO EIM), Centro Nacional de Control de Energía (CENACE), Southwest Power Pool Western Energy Imbalance Service market (SPP WEIS) as well as new market instruments to handle battery energy storage and more renewables.
“Today’s energy companies need the speed and flexibility that cloud-native technology provides to fully leverage the massive amounts of data available to them,” said Jason Kram, Adapt2 Solutions’ Executive Vice President. “In a rapidly-changing market, the energy wholesalers who succeed are the ones that can access their data to make smart business decisions by leveraging artificial intelligence - whether front or back office. We are proud to work with Exelon as they prepare for a digitally transformed future.”
In the next decade, as renewables and storage technology advance into the mainstream, cloud-native technologies, artificial intelligence and analytics will play a key role in managing those control systems putting increasing pressure on the energy industry to adapt and evolve. The continued growth of Adapt2’s enterprise customers is further proof of the energy industry’s adoption and confidence in leading technology for lowered costs and enhanced interoperability joining the ranks of energy companies whether utility, cooperative, asset manager, municipal or any market participant shifting to the cloud including Vistra Energy, Invenergy, Boston Energy Trading and Marketing, Liberty Utilities, Sempra Energy, Missouri Public Utility Alliance (MPUA) and Golden Spread Electric Cooperative.
About Adapt2 Solutions:
Adapt2 Solutions (Adapt2) is the leading provider of AI enabled multi-market operations software designed to help market participants streamline all of their front and back office operations. Founded in 2008, Adapt2 delivers market-based solutions on the latest and most current technologies providing customers with fast, intuitive and stable user experience and performance. With over 124 market implementations representing over 2500 market participants, Adapt2 is a leading solution provider in the energy industry. Adapt2 Solutions is a privately held company based in Houston, Texas. To learn more about Adapt2, please visit www.adapt2solutions.com.
About Exelon Corporation
Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2018 revenue of $36 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 32,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Follow Exelon on Twitter @Exelon.