Managing Settlements with any Independent System Operator (ISO) has become a daunting challenge to the market participants due to the involvement of multiple parties, handoffs, complex calculations, validation & settlements processes. In order to produce "Settlement Quality" Meter data to the ISOs, market participants must have internal systems that produce meter and price data that is accurate, correct, complete and presentable in a timely manner.
IRC's Settlements Management Solutions (SMS) provides clients easy to use Web based and integrated software that can improve the accuracy & efficiency of the complex ISO settlement process while eliminating costly penalties. IRC's solutions consist of the following configurable modules:
Meter Reader
- Collect meter data files from various MDMA's & Scheduled via Configurable Scheduler
- Validation of incoming meter ID with existing meter names / ID
- Process edited files into a database
- Mitigate duplicate file processing
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DLF Parser
- Pulls distribution loss factors from external UDC websites & Scheduled via Windows Scheduler
- Stores downloaded files into a local file storage server and to a database
- Stores processed data into pre-defined database
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Meter Settlements
- Aggregated meter data submitted to ISO and to the respective UDC's (Can be scheduled)
- Aggregated data is written to a MDEF, CSV or other formats
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Settlement Acknowledgement
- Processes settlement acknowledgement files received from ISO
- Perform additional verification from 3rd party sites (such as OMAR)
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Change Requests
- Automate change requests based on calculated deviations
- Generate change request forms to be submitted to ISO
- Undo / Adjust an existing Change Request
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User Defined Reports
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Acknowledgements