Volue Market Services helps Norwegian hydropower producer Løvenskiold-Fossum optimise their power production and has made the company more profitable in 2020.
Apr 15, 2021
Volue services have made Løvenskiold-Fossum, owner of eight power plants and one pump station in Norway, more profitable in 2020.
“We couldn’t be happier with services and software from Volue. They have generated more money for us since day one,” says Roger Johnsen, Technical Director at Løvenskiold-Fossum.
“Our demand for a more active and forward-thinking partner led us to Volue. We have never had any regrets,” says Johnsen.
Volue Market Services has helped Løvenskiold-Fossum optimise the value of their hydropower production. This is accomplished in part through intraday trading and continuous upgrading of production plans 24/7 to increase profits.
According to Johnsen, Løvenskiold-Fossum has generated approximately EUR 40,000 extra from a portfolio of 15 GWh, which translates to an annual increased value of 23,000 NOK / GWh.
We built a new system together with Volue to utilise the available effect. This has proved to be a more profitable way of operating our plants.
Roger Johnsen Technical Director at Løvenskiold-Fossum
New production plans are sent from Volue directly to Løvenskiold-Fossum’s power plants where production is automatically regulated.
“Our crew can go home in the afternoon, knowing that the Volue software will make sure that production is optimised through the night,” says Johnsen.
He regards the set-up from Volue as ‘future-proof’.
“As soon as the Transmission System Operator, Statnett, announces a 15-minute market interval, we will be ready. Together with Volue, we are rigged for a future,” says Johnsen.
Sigrid Lønn, Head of Sales at Volue Market Services, is thrilled to have Løvenskiold-Fossum as a client. Lønn is just weeks away from introducing algorithmic intraday trading to small and medium-sized clients, a service expected to dramatically improve profitability.
Volue is developing the trading tools that all major players use. We look forward to making these tools available for small and medium-sized clients, through our Physical Power Trading Service.
Sigrid Lønn Head of Sales at Volue Market Services