In today’s world, data processing and analysis are key components of the successful operation of businesses. Data is a treasure trove of opportunities for change management. But what to do when traditional and well-known Excel doesn’t allow you to achieve more and keep up with global trends in visualizing large data sets.
In 2021, Market Operator JSC, the company responsible for organizing the purchase and sale of electricity in the spot segment in Ukraine, faced this problem. Today, an average of 600 Ukrainian companies are actively trading electricity on their platform.
The company operates on the principle of a European exchange, which promotes competition and reduces electricity prices. “The Market Operator considers itself to be the architects of the future of the Ukrainian electricity sector, as it is the first energy company to introduce and make payments through escrow accounts. And they are the first to have a payment system that works on weekends.
As an energy exchange, Market Operator handles large volumes of data on a daily basis that require analysis and visualization. Therefore, it has become an urgent issue to find a solution to facilitate the processing of these large amounts of information in order to increase the efficiency of operational daily analysis.
However, the problem was not limited to the amount of data. “The Market Operator requested that we not only analyze this data, but also promptly update it on our website so that stakeholders could have access to up-to-date information.
That’s why we chose Tableau as a very convenient tool for analyzing and displaying data in real time. Tableau made it possible to create calculations and display formulaic data calculations, filter and group data, which simplified the analysis process and allowed us to prepare high-quality analytics for stakeholders.
The annual report on the day-ahead and intraday markets in 2023 was prepared using Tableau. More: https://www.oree.com.ua/index.php/web/10794
Also, with the help of Tableau, Market Operator was able to expand the range of information and consulting services. The company expanded the horizon for hourly modeling of electricity prices in the spot markets of Slovakia, Romania and Poland. The availability of such data at D+3 allows traders to adjust their trading strategy for export and import operations in the electricity market.
The analytical platform of JSC Market Operator with extended information on the operation of the day-ahead market and the intraday market of Ukraine, including prices and volumes of accepted electricity for the month, day, and by hour, except for confidential information, is available to electricity producers and sellers.
Graphs are taken from the commercial offer of JSC Market Operator for the provision of information and consulting services: https://www.oree.com.ua/index.php/web/10758
The company has taken on a bold and responsible mission to effectively implement market coupling, i.e. joint trade in electricity with the united European market. After integration into the EU, new challenges will arise in terms of data processing and analysis. Therefore, Market Operator JSC intends to continue to develop and improve the use of Tableau in its work, as the program has proven its ability to quickly and efficiently visualize a large amount of data.
