Nordic energy company Gasum and global technology leader ABB are bringing a new energy market optimization solution to energy intensive industry and utilities. The solution is offered by Gasum and powered by ABB Ability™ OPTIMAX®.
The new multi-market optimisation (MMO) solution offers customers comprehensive benefits in energy markets by ensuring efficient use and production of energy, according to the companies.
It includes full market access, trading and advisory services, and optimising the use of assets like batteries, heat pumps and boilers, they added.
The solution enables minimising costs by using the most cost-effective energy sources and provides market flexibility, they went on to say.
This generates additional revenue and improves risk management against price volatility.
It also supports the green transition by bringing more flexibility to the market, which is needed as renewable power continuously increases.
The organisations added the solution marks a significant milestone in the energy sector, offering comprehensive access to the full power market value chain, in a way that has not been available before in the Nordic energy market.
The solution is designed to overcome traditional boundaries by enabling optimisation across various energy commodities including gas, heat, and solid fuels, in addition to power.
This means that customers can leverage the full spectrum of energy resources, maximising efficiency and sustainability, they stated.
“This transformative multi-market optimisation solution is a testament to Gasum’s commitment to innovation and sustainability. It provides our customers with the tools and support to gain the best possible benefits and cost savings from the energy market, in a way that has not been available until now”, stated Tommy Mattila, vice president, industry & traffic at Gasum.
“We are confident that the new MMO solution will transform energy optimisation and consumption, providing more value than ever to the market and end-users. For the first time, companies can go beyond the limitations set by traditional energy market boundaries to leverage the full spectrum of energy resources. This is a key part of our continued focus on empowering industry to respond effectively to the evolving energy market,” said Dr. Sleman Saliba, global product manager, energy management at ABB Energy Industries.
Gasum and ABB deliver “first-of-its-kind” energy market optimisation solution
