The Volue Insight API: Pan-European Fundamental Data and Market Forecasts Under One Roof
“Last time I checked, there were 24 103 data curves,” says Tom Donnelly from Volue Insight. “That’s a huge amount of energy data in a single source.”
He’s introducing the Volue Insight API, a one-stop shop for those looking for fundamental data and forecasts to put through their own models.
“Obviously, some of these curves get more attention than others. For example, a lot of users are looking at wind production in Germany.”
Tom adds that most of the data available through the Volue Insight frontend can be replicated through data available in the API.
“Forecast data, model outputs, actuals, Urgent Market Messages (UMMs), it’s all covered in the API. We believe in providing the API as a standard. All customers have access to all data at all times.”
Significantly, the data isn’t local to certain markets. It covers all European markets.
“This is crucial. Our models are pan-European. We know multiple markets. The more interconnectors that come online, the more the markets are going to be locked together. No one can afford to focus on a single country anymore. Things are really changing.”
However, this isn’t just a numbers game.
“The API – no one remembers that it stands for application programming interface – provides a way of transferring data from our server to the client’s server. It’s the software-to-software interface that enables the two applications to exchange data. The value is in the quality of the data we provide and the convenience of having it all under one roof.”
Who is the API for?
Tom sees a big change in the way the market works with power production data.
“The API is for everyone. The market is data-driven. Nobody wants to be left behind. Everyone is learning to work with data. In Intraday trading, for example, you need constant access to fresh data.”
For Tom, the API is the next level up for the Volue Insight service.
“Many of our customers rely on the frontend data we provide through the website interface. But many others just want pure fundamental data and market forecasts to put into their own models. They don’t need third-party graphs and reports. Our API answers the market need for flexibility. We are embracing the change.”
Energy from nuclear, coal and gas is being replaced by solar and wind, which are volatile energy sources.
“Solar and wind are changing all the time – hour to hour. People trading at the short end of the curve struggle immensely because maybe the wind doesn’t blow the way they thought it would, or a power station shuts down unexpectedly. All of a sudden, they need to replace that energy with a power plant elsewhere, so having access to UMMs and short term model data is essential.”
How much wind is being produced in Germany? How much solar is being generated in Spain? What is the hydro balance in Norway? These are questions traders and analysts will ask themselves.
“One of the real strengths of the API is that if you need fundamental data to put through your own models, we have the full picture of what’s going on all over Europe. If you operate multiple assets, if you trade large portfolios, you want to rely on a sole provider with solid data. We have the data you need.”