MCG Energy’s Integrated Asset Manager (IAM) is an easy-to-use system for bid capture, physical scheduling and tagging, ISO market submissions for physicals, financials and asset management, market clearing, real time scheduling, performance reporting, and settlements. IAM is natively integrated with the MCG Energy Software Suite, and can be used alone or with other MCG software as a complete energy management solution.
At the latest MCG Energy Annual User Meeting, IAM Product Manager Jerome Khan announced the release of IAM v3.22.03. MCG Energy has a few key highlights in store for the latest release in 2023.
IAM is integrated with all North American energy markets. In addition, now there are new screens for PJM, NYISO, and ISONE to enhance the user experience of customers in those markets. More new screens are being added for the ERCOT and IESO markets.
As always, MCG Energy is keeping IAM current with market changes and customer requests throughout the year. One of the many advantages of working with MCG is our standard Software Assurance guarantee – MCG Energy applications are kept up-to-date with market system changes for all customers at no additional charge.
The Latest Integrated Asset Management Software Updates
The new IAM software release has many updates to enhance asset management in the energy markets. Customers will now be able to demonstrate a complete end-to-end cycle from initial bid to settlement, billing, and reporting using IAM. We have also updated ETRM integrations and automations for bid-to-bill workflows.
With every new release, MCG Energy customers are provided documentation, and optional online training at no additional charge, to learn how to benefit from the many new enhancements. Some 2023 enhancements were already available last year, but we are making them available again for customers that did not take the 2022 IAM upgrade. This new release has all of those features, as well as many new ones:
The Report Scheduler and Excel export tools have been updated in a number of ways. For example, colors are preserved from the system to output, report timestamps include time zone, and emails with rich text can now be added to reports. These are among the many changes requested by IAM customers that will save them time, improve performance, and make their jobs easier throughout 2023 and into the future.
Market Price Enhancements
Enhancements to market price functionality are based around integration with bid-to-bill workflows. Market prices are pulled from various ISOs and there are many different ways to view them. There are also upgrades to the portfolio management system, which can now push prices to ETRM systems.
Two new dashboards have been added to the system with map controls. This helps set IAM up for transmission map tracking and visualization. Continuing improvements to UI controls are planned and in development.
OASIS / Transmission Enhancements
The Transmission Tracker is a new worksheet that allows users to quickly view utilization and perform transmission workflows. The Transmission Tracker has two key features, consolidation of reservations and preemption for tracking transmission requests, and visualization of right of first refusal (ROFR) requests.
Transmission Map Enhancements
IAM’s fully clickable and interactive Transmission Map has many new features. Clicking parts of the new map accesses important data such as limits, schedules, and availability. Reservations can now be viewed to enable users to set grandfather limits, contractual limits, or termed reservation limits. You can now visualize limits by segments and view hourly details for each segment. Auto-refresh automatically advances the date of visualizations.
The release includes numerous tagging enhancements. New information has been added to tag templates such as the date a tag was last used. This allows users to easily clean up templates and to deactivate the templates they no longer need. In addition, transactions can now be adjusted based on the order in which they’ve been linked. To take advantage of these changes, MCG Energy assists customers in configuring tags to work optimally with changes in the new release and their workflows.
IAM is integrated with all North American energy markets. We utilize an agile approach to development which allows us to stay on top of any sudden market changes. For example, MISO recently changed all of its APIs. MCG was ready and recreated the MISO screens from scratch to maintain integrations and to best accommodate the market’s changes.
Enhancements have been made to all asset management screens, but the biggest focus has been on the PJM, New York ISO, and New England ISO screens. The new screens are similar to the system’s previously implemented CAISO, SPP, and WEIS screens. The screens enable users to quickly sort through all data through filter controls, to upload spreadsheets, and to copy and paste sections of sheets as needed. Each of the new screens have features specific to each market, such as the PJM screen’s ability to pull in PJM’s market data reports. MISO screen improvements include RTOE workflows and support for short term reserves.
Additional enhancements have been made to the Webservice Task and Webservice Log integration screens.
IAM has been integrated with the new Southeast Energy Exchange Market since it went live in November 2022, enabling customers to submit bids in SEEM, process match requests, auto link bids, show loss reports, and more.
The Future of IAM Software
MCG Energy diligently ensures we always provide the best energy management software on the market, including our flexibility in adapting to ongoing energy industry updates. The future of energy software is always affected by market changes, and we will continue to follow market timelines in supporting market updates for all customers as they are implemented.
As always, for further information contact MCG Energy to discuss what IAM and the rest of the MCG Energy Software Suite can do for your organization.
David Peterson, Ph.D. is the content specialist for MCG Energy Solutions.