Press
San Mateo, CA, October 14, 2016
EnDimensions is supplying EnSuite® Financials, Settlements, Billing and Invoicing Modules to Colombia’s national energy market operator.XM Compañía de Expertos en Mercados S.A. E.S.P as part of XM’s long-term plan to update and expand their market operations infrastructure to respond to the rapid pace of change and growth in Colombia’s markets. EnDimensions will partner with multinational energy giant Siemens AG to provide a tightly integrated package with Siemens’ Spectrum Power Energy Market Management (EMM) Platform. The EMM system will provide a web interface for market participants to register assets and long term contracts with the Colombian energy market, while the EnSuite solution will perform all settlements, billing, invoicing, reporting, financial analytics and risk monitoring functions.
XM, Compañía de Expertos en Mercados S.A. E.S.P. operates the National Interconnected System (SIN), the Colombian Wholesale Energy Market (MEM) as well as short-term International Electricity Transactions with Ecuador (TIE). XM also provides grid operation and reliability services. No newcomer to deregulation, Colombia has an active and growing energy market that transacted over 66,549 GWh of energy in the year 2015, with a net effective installed generation capacity of 16,420 MW, according to XM’s 2015 annual report. Slightly more than 60% of Colombia’s energy is supplied by large hydroelectric resources, augmented by approximately 30% production from fossil fuels.
Dr. Cecilia Maya Ochoa, CFO and Market Operations Director at XM, said “After a thorough analysis of the different options the market offers for an EMMS, we found in the solution provided by the consortium Siemens – EnDimensions a robust and flexible system as is required today for an efficient and reliable management of power markets. We are positive that with the support of this solution we will be able to face the challenges ahead for market operation.”
EnDimensions CEO Dr. Jeff Chapman said “We are very pleased as a group to have shown excellent results through XM’s very rigorous vetting process, and we expect that XM and the Colombian energy market will be exemplars of robust infrastructure and sound market design to other markets across South America and the world,”
For further information about the EnSuite® family of products, please refer to http://www.endimensions.com.
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