As an integral part of the MCG Energy Software Suite (ESS), Innotap Data Suite (IDS) is the industry leader in real-time power trading software. Innotap recently made significant changes to IDS with more to come. These enhancements provide users the fastest and most efficient means to intercept and understand large energy market data sets, and to identify the latest opportunities in rapidly fluctuating energy and commodity markets.
Innotap Energy Product Analyst Joe Mac Crory described the latest updates to empower IDS users with accurate and critical decision support, with more to come. Further data-driven advancements are in the works based on user requests, their input, and industry trends. IDS provides customers the most effective and efficient means of making profitable trading decisions to maintain their competitive edge.
Recent Innotap Energy Market Integrations
In the past year, Innotap made numerous advancements in energy market integrations and software features for CAISO, ERCOT, ISONE, MISO, NYISO, PJM, and SPP. These changes greatly enhance successful trading potential with ISOs and RTOs.
The California Independent System Operator (CAISO) is one of the largest ISOs in North America. Innotap has added 5 minute interval data updates for CAISO through the Load app while making forecast data available for 2DA (2 days ahead) and 7DA in table and graph formats. The Ancillary app added the option to filter by CAISO region for a more granular understanding of changes in that market. We also improved capture of CAISO’s daily averages, spread alerts for intervals, and scalability. Additional features include ancillary results and requirements, day-ahead market summary, sufficiency evaluation demand forecast, scheduled Tie combination LMP comparison, and schedule by Tie.
We added significant accessibility to data for the Electric Reliability Council of Texas (ERCOT). Improvements have been made through several Innotap apps. In the AS Capacity Monitor app, two days of data are now graphed for display. The Constraints and Wind Gen apps now feature new kinds of ERCOT data and overall performance improvements. The Wind app has undergone a significant transformation and as a result, has been replaced by three new apps: Wind Solar Gen, Wind Gen by Load Zones and Regions, and Solar Gen by Regions. Locational Marginal Price Comparison LMP was also added.
ISONE supplies energy across six New England states. Like ERCOT, LMP was also added for ISONE in IDS. ISONE, and many of its energy market counterparts, will experience a multitude of changes through the growth of renewables. MCG Energy’s Innotap solutions will provide tools to profit and dramatically reduce the risk in working with these developments.
Serving Manitoba and 15 US states, Midcontinent ISO (MISO) has grown into one of the largest global markets with annual transactions of approximately $40 billion. While adding additional data and enhancing MISO functionality for the Ancillary (Zones) app, Innotap’s MISO integration reflects the size and growth of this Independent System Operator (ISO). We added solar data for MISO to the MOM Forecast report and to the Wind/Solar app. New apps for MISO include LMP Comparison and Day Ahead Market-Wide Summary.
Like the New England ISO, the LMP Comparison app was added as a marketing tool for the New York ISO . NYISO ensures New York has a reliable power system and competitive market.
Innotap made several enhancements for the Pennsylvania-New Jersey-Maryland Interconnection (PJM). The Wind Gen app has been expanded to load more PJM data and improve its performance. LMP Comparison and Real-Time Dispatched Reserves are additional apps now available for PJM.
Southwest Power Pool (SPP) is a regional transmission organization that provides dependable power supplies, infrastructure, and competitive wholesale prices to millions of its users across the Southwest. Innotap Data Suite has added new data and performance improvements for SPP to the Mark Clearing and Ancillary apps. The LMP Comparison and the Load by Area apps now cover SPP as well.
Innotap is adding more content for the Southeast Energy Exchange Market (SEEM), and monitoring the market’s continuing developments for how we can best serve IDS customers. SEEM opened for the southeastern United States in late 2022 and has 23 members serving 12 states. SEEM is making a significant impact on the bilateral electricity market and is advancing the delivery of cleaner and cheaper energy to the region.
Innotap Recent Highlights
Updates to Data Visualizer, DecisionDock, fuels, and new apps are among our many recent enhancements making the IDS decision support software better than ever.
Data Visualizer Software Update
The Data Visualizer software has experienced the addition of a multitude of new data types in the past year. Another significant enhancement is the increased number of data elements per graph. Innotap has doubled the data elements per graph for a more accurate picture of emerging trends.
Innotap Energy: DecisionDock
The Innotap DecisionDock is a virtual desktop that allows users to access complex market data in a convenient layout to assist in real-time decision making. DecisionDock has been developed to format and dock configurable dashboards, and features user-defined SMS mobile alerts for information as it becomes available.
DecisionDock has dual functions as a SmartApp interface and in facilitating decision-making. The SmartApp interface assists with managing apps that feed data into IDS, as well as consolidation and display, and provides unlimited layouts to meet your requirements. DecisionDock also enables you to share layouts with other users, receive notifications, and access data from multiple screens.
Our software innovative developments are built upon the needs of our customers. We utilize our customers’ feedback as an essential component in guiding improvements to our software. A prime example of Innotap’s emphasis on our customers’ requests is the new Fuels folder on the main bar of DecisionDock.
Innotap’s New Apps
The latest Innotap apps include Daily Spot Prices, Natural Gas Prices (Henry Hub), Natural Gas Storage, Natural Gas Weekly Prices, and Prompt-Month Energy Futures. All are now integrated with the Innotap Data Suite.
Innotap’s 2023 Roadmap
Our cutting-edge software enhancements in 2023 are supplementing IDS with additional energy trading analytics, data, content, and apps. In addition, there is now a third weather service. Further monitoring and assessment are underway to identify areas for greater performance enhancements.
The new Short-Term Congestion analysis will assist traders in short term FTR and UTC. Innotap has been soliciting user input to assist in making the app’s functionality and features do what customers need them to. This app is slated for Beta testing in the near future.
MCG Energy Software Suite Integrations
As a leading provider of energy software, MCG Energy is proud to offer Innotap Data Suite as a complete management tool that complements the entire MCG Energy Software Suite with real-time power and energy decision-making. Innotap is a data-driven solution that provides timely and accurate information to help you make faster, smarter decisions.
Innotap shares MCG’s Software Assurance as part of our standard Support & Maintenance. Software Assurance guarantees that our solutions are kept up to date with ISO and RTO market integrations and other system changes at no additional cost. Developed with customer input as a key component, our software is designed with traders for traders. As energy trading and markets continue to evolve and grow more competitive, Innotap Data Suite puts real-time energy trading and decision support at your fingertips.
David Peterson, Ph.D. is the content specialist for MCG Energy Solutions.