Steria to Provide New Settlement System as Part of the Electricity Market Reform (EMR) Legislation
June 25, 2014 - New Delhi, Delhi, India
Steria, a leading provider of IT-enabled business services, has today announced that it has won a contract with EMR Settlement Limited, a wholly owned subsidiary of ELEXON Ltd, to license its RT.Easy1 software as part of a new settlement system for energy generators and energy suppliers. The system covers both Contracts for Difference (CfDs) and the Capacity Market (CM) as part of the UK Government’s Electricity Market Reform programme.
The contract, worth an initial £5.8m, includes software licences, configuration and implementation activities, hosting of the infrastructure on a cloud based solution, application support and maintenance, and business process services to manage the payments to energy providers.
Gavin Chapman, Chief Operating Officer, Steria UK, said, “The scope of this contract will form an important cornerstone for the changes that Government is looking to bring in to incentivise new investment in electricity generation and ultimately production of low carbon forms of electricity. As a trusted transformation partner in both the private and public sectors, Steria has extensive experience of working with many of Europe’s leading energy and utility companies. This is an important infrastructure project that will help transform the UK energy sector and I’m delighted we are able to act as technology and business process partner to ELEXON for EMR.”
Peter Haigh, Chief Executive of ELEXON, commented, “This is a significant step in the EMR programme and for ELEXON. Steria’s strong portfolio in building and delivering IT systems assured us that they have the right experience and expertise to support our role as Settlements Services Provider for EMR. We are excited to be working with Steria to build a pioneering settlement system for the benefit of EMR stakeholders.”
1 Note: RT Easy is a dedicated tool designed and developed by Steria to provide additional tailored functionality within SAP IS-U, the SAP solution for the Utilities Industry.
With 20,000 people across 16 countries, Steria delivers end-to-end IT-enabled business services that help private and public organisations meet today’s complex business challenges. As a Trusted Transformation partner with a highly collaborative approach, Steria provides consulting, digital expertise, as well as optimised infrastructures, applications and business process services. With over 20%* of its capital owned by its employees, Steria generated revenues of €1.75 billion in 2013. (*): including “SET Trust” and “XEBT Trust” (3.90% of capital)
Steria has over 25 years' experience in the energy and utilities industry and in excess of 1,500 dedicated sector professionals across the Group. Find out more about how Steria’s smart thinking is transforming the energy and utilities sector at http://www.steria.com/fileadmin/com/sharingOurViews/publications/files/utilities/index.html
ELEXON is a wholly owned, not for profit subsidiary, of National Grid. ELEXON plays a vital role in the smooth operation of the UK wholesale electricity market comparing contracts to buy and sell electricity in the wholesale market with actual volumes, and handling £1.5 billion of industry funds each year.
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Source: Business Wire India