Volue consolidates its Iberian presence by launching algo trading software in the continuous intraday market of OMIE.
25 okt. 2023
We understand that the intraday power markets are highly volatile, characterised by ever-increasing turnover. With each passing year, they steadily become faster and more complex.
Since 2014, we have supported our customers to fully and reliably automate their continuous spot trading in this highly dynamic environment. This activity has seen users across Europe enhance their earning potential through innovative and productive fields of action in short-term power trading.
Following significant research and planning, we will now introduce our Volue Algo Trader Power (VATP) solution to the Iberian market, supporting the growth of the sector as we do so. We have seen significant increases in the GWh traded in the continuous intraday market in OMIE, and the introduction of VATP will support that growth.
With VATP, customers can individually parameterise the algorithms and start trading immediately, delivering an extremely reliable platform to automate the intraday trading.
More than 70 companies from all over Europe already benefit from the services and solutions offered by Volue Trading Solutions and we look forward to enabling systematic and profitable algo trading for market players active in the OMIE intraday continuous market. By strengthening our presence in energy trading across Spain and Portugal, while making further expansions into Europe, we are solidifying our commitment to a greener future across Europe.
Roland PeetzSenior Vice President Trading Solutions at Volue
The Iberian Peninsula has significant amounts of renewable energy potential, paired with innovation, research and favorable governmental policies. This is the ideal landscape for a liquid and attractive continuous intraday market. With our team in Madrid already active across several projects, we look forward to rolling out our Algo Trader solution to support market players in Iberia to fully and reliably automate their continuous spot trading.
Ana IllánSenior Account Executive at Volue
This decision was made following significant research and planning, with a full understanding of Portugal and Spain’s green ambitions.
2023 has seen Portugal and Spain reaffirm their commitment to delivering a sustainable and economically viable green transition. The European Union’s national energy and climate plans (NECPs) outline how each EU country intends to address various dimensions of the energy union, including decarbonisation and addressing internal energy markets.
With that context in mind, Portugal has aims to more than double its 2030 goals for solar energy capacity, stating in its NECP: ‘…the challenge of decarbonisation and the energy transition is an opportunity to leverage the national economy in a sustainable development spirit and based on a just and cohesive transition.’
Spain has also outlined plans to reduce its greenhouse gas emissions. The country has an ambitious strategy to deliver a renewable energy framework that can provide a large percentage of its power generation. The Spanish Government’s Strategic Framework for Energy and Climate, contains several strategic and legislative elements aimed at identifying the main lines of action on the path towards climate neutrality.
With these clear ambitions paired with significant activity to date, both countries are developing into renewable energy leaders in Europe.
This year saw the announcement that Spanish energy giant Iberdrola had signed a framework agreement with us for the short-term production planning and optimisation of its power plant portfolio with Volue Smart Power.
Energy management is at the core of Iberdrola’s business and Volue supports all energy management business processes, including the short-term production planning, the creation of bidding strategies, trading and monetising available flexibility and scheduling for all the different energy markets where Iberdrola is active.
Our activities with Iberdrola illustrate that Volue is very much at the heart of Iberia’s energy sector. Our Iberian HQ sits at the heart of Spain’s capital, Madrid, with a local Spanish workforce operating on the ground. Not only that, but several Iberian companies already use our Insight data, across power and gas market fundamentals and price forecasts.
Volue is already widely recognised and regarded within markets accessible through the Pan-European exchanges of Nord Pool and EPEX. Our sizeable Iberian operations also continue to support us in meeting our strategic focus and vision: to be the number one software and software-backed service provider to the European energy system by 2030.
The introduction of our algo trading software in the continuous intraday market of OMIE not only consolidates our position in Iberia, but it also provides a further platform for the region to meet its green ambitions.