Ignitis Group adopts energy smart future
The Baltic states' largest energy company, Ignitis Group, has signed a two-year agreement to use Energy Exemplar’s PLEXOS modelling software, to create market simulations that allow the company to test new scenarios and develop assets in line with its vision for an “energy smart” future.
Ignitis Group is responsible for supplying consumers with energy in Latvia, Estonia, Poland, and Finland. The group’s core activities include developing wind and solar energy projects, power and heat production and supply, power and natural gas trading and distribution, and power system maintenance and development.
Ignitis Group has chosen to work with PLEXOS to help forecast day-ahead energy prices and plan around evolving future markets, among other use cases.
Paulius Kozlovas, Head of Innovation at Ignitis Group, said: “Here, at Ignitis Group, we believe in the ‘Energy Smart’ world and work every day to bring the future closer. Every day we generate new ideas, conceptualise, test them, and try to transform the vision of today into smart products and services of tomorrow. So, we are excited to open a new chapter in energy market modelling using advanced software.”
Energy Exemplar will also support Ignitis Group in its core strategy to reach 4 GW of installed green generation capacity by 2030 and reduce net carbon dioxide (CO2) emissions to zero by 2050. Modelling will allow for better planning and pricing of new infrastructure development, exploring different future scenarios and outcomes.
All three Baltic Transmission System Operators (TSOs) use PLEXOS to forecast and predict market prices, flexibility capacity and future energy scenarios. Ignitis will also draw on out-of-the-box PLEXOS datasets for the Baltic states, Poland, and Finland to better understand and organise decision-making, such as when to import alternative energy sources and where from, and the building of infrastructure compatible with other regional TSOs.
Michael Schneider, Senior Vice President and Head of EMEA at Energy Exemplar, said: “With energy security and alternative energy sources a top priority, it is important that system critical utilities like Ignitis Group have the ability to respond quickly to price changes and plan new investments with clear scenarios of the future in mind.
Ignitis Group will be able to draw on shared datasets across the region, connecting with other energy companies for a more efficient and affordable management of the energy market. We are pleased to work with Ignitis in providing a shared platform that could lead to clear quick wins early on and foster better scenario development across the continent.”
Paulius Kozlovas added: “PLEXOS will give us valuable insights in the Baltic and Nordic energy markets, so Ignitis Group can remain as the leading energy company in the Baltics and make sure that energy works better, smarter and is more convenient for our customers every day.”
