Energy One Limited (ASX:EOL) is pleased to announce it has entered a commercial partnership with Time2Market in Europe to enable companies to enter new energy markets.
Time2Market is a service provider that serves new entrants and existing market participants looking to expand to new energy markets while maintaining companies’ market presence post-entry. The service offering of Time2Market is highly complementary to the software and services offered by Energy One.
Both companies frequently encounter prospective customers that could mutually benefit from the services and software offered by Energy One and Time2Market. As such, a formalised working relationship between the two companies will offer enhanced levels of service and benefits to existing customers as well as companies looking to enter new energy markets.
The offering of both companies allows energy traders to focus on their core business – such as trading strategy – while their market access stays top priority in the hands of Time2Market.
Working together to make market entry easy
Time2Market undertakes a wide range of administrative tasks and regulatory requirements that companies are required to comply with when entering a new market. Their assistance allows energy traders and suppliers to speed up the process of market entry, allowing them to expand their operations to 45+ gas and power grids without requiring a dedicated internal resource to handle these projects.
At one point during the market entry process, a TSO will require the following items to be performed (amongst others):
- Setting up and testing dedicated and secure communication channels between the company and the TSO – depending on the market, this may be done via AS2/AS4, web services or encrypted emails
- Maintaining and upgrading these communication channels, for example if a new message format is rolled out
- A contact person who is on call 24/7
This is where Energy One Limited assists: Its gas and power nomination and bidding software offers market communication lines with 100+ TSOs, SSOs, exchanges, etc. across the globe. Its global team of experienced operators can take care of a client’s portfolio or be on call for the TSO on their behalf. Energy One has three teams globally, based in Paris (FR), Brussels (BE) and Adelaide (AUS), who can handle this capability out-of-hours, during weekends, or around the clock.
When a company wants to make the move from financial trading into physical trading, a solution to nominate and balance the portfolio across grids becomes essential. Energy One delivers software and services to facilitate this across the UK, Europe and Australasia.
Its broad portfolio of solutions includes: ETRM; algotrading; auction bidding; asset scheduling, energy process automation and more, which allows Energy One to support companies as they grow.
“While working with a range of clients with different setups and activities, we have encountered many who do not have the internal resources to establish or maintain secure communication lines with TSOs. As technical implementation is an area that isn’t part of the services Time2Market offers, we highlight Energy One as a trusted service provider in the area. This is naturally where our partnership with Energy One was born. We believe this collaboration will aid our clients to entering their desired markets even faster while ensuring their setup is established and monitored properly.”Eszter Pontenagel, Founder & CEO of Time2Market
“Partnering with Time2Market is a natural fit, since prospects and clients often ask us who can help them with the registration process for certain markets. We are happy that we now have a reliable partner we can refer our clients to. I am looking forward to our collaboration in Europe and beyond.”Vincent Dumontoy, General Manager at Energy One in Europe
Ambitions for international growth
Time2Market was founded in the heart of Europe and has been operating across European energy markets since the beginning. Following their vision to become the leading market management service provider, Time2Market has expanded their portfolio to North America due to client demand, while providing market access support to dozens of market participants worldwide.
At present, Energy One and Time2Market are focusing their collaboration on Europe, but the future may see both companies work together to help companies looking to access Australian and Asian energy markets as well. This could benefit existing Energy One customers who are looking to get started in that region, as well as Australian customers looking to enter European energy markets.
More details about the partnership will be available later in the year. In the meantime, to find out more don’t hesitate to contact us: