Meter Data Verification
PowerTRACKER provides a complete set of tools to manage all the financial transactions between the market participant and the RTO. These tools include financial accounting checkout, invoice creation and tracking facilities, meter data verification, invoice dispute management and ISO bill verification. Standard and custom reports are available for analysis and company-wide distribution of settlement and bill information.
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Energy Accounting and Billing System.
POWERTRACKER
PowerTRACKER provides a complete set of tools to manage all the financial transactions between the market participant and the RTO. These tools includes:
- Meter Data Verification: 5-minute, Daily, Hourly verification of all meter data sent to ISO or for internal settlement use
- ISO Bill Verification: Calculates settlement using Internal data and then verifies against ISO to find discrepancies in billing/settlement.
Benefits
PowerTracker allows utilities the ability to verify meter data daily before submission to ISO as well as verifying the ISO/RTO settlement bill.
Meter Verification: The system obtains data from multiple sources and compares data against each other with rankings based on source quality to verify the data. Additional items such as high/low limits and the ability to create calculated sources simplifies verification functionality. AI/ML is used to automate the verification and find problems within data before submittal. PowerTRACKER’s meter verification process performs the verification and submits correct data to the ISO.
ISO Bill Verification: This module is used to to verify the bill sent by the ISO against the internal data.
Shadow Settlement: Allows clients to view and understand the financial exposure of the company based on its operations within the ISO market on a real-time basis. This allows for management reporting of various financial metrics such as cash flow and profit and loss to be viewed after each hour of operations to allow for better financial management and maximization of profits. Ease of customization: Integ recognizes that each client’s processes, data flows, and systems are unique. PowerTRACKER is a flexible, customizable system that will ensure that the system fits your current processes and not the other way around. Corporations do not often realize or compute the switching costs from changing processes to meet the requirements of inflexible software. What-If Analysis:
PowerTRACKER enables the users to employ historical data to create scenarios to forecast P&L and detailed credits and charges. Integration with ISO systems: PowerTRACKER allows reporting of every data point across all the ISOs. This allows users to analyze data using different view and metrics.
Functionality
- Configuration Data: Management and submission of unit, schedule and fuel data.
- Meter Verification and Submission: Ability to verify meter data across various sources, flag discrepancies, perform hi/lo-limit checks, deviation-limit checks, estimation for missing data, comparison and adjustment of such data, and submission of meter data to ISO.
- Reporting Data Management: Ability to import and view reporting data from the ISOs.
- ISO Bill Verification: Enables user to view the ISO monthly bill in detail, line item by line item, showing the ISO bill amount and corresponding internal amount calculated based upon internal data sources.
- Shadow Settlement: Calculates and produces the ISO billing statement, containing a detailed view of all the billing-related line items on a real-time basis.
- ISO Portal: Ability to view every data point of each ISO system.
- What-If Analysis: Enables users to duplicate all accounting-related data into a "sandbox" area for a specific time period. Through the normal GUI, the user invokes the "Study Mode" to formulate a scenario by altering data on various operation screens. All reports can be generated in "Study Mode" to denonstrate the effect of the data alteration.
- Reporting: Produces regulatory, financial and analytical reports. These reports can be generated in various formats for further analysis (for example, CSV, PDF and Excel).
FREQUENTLY ASKED QUESTION ABOUT METER DATA VERIFICATION
Meter data verification is the process of checking the accuracy and reliability of energy consumption or production readings from meters. It ensures the correctness of the data used for financial transactions in energy trading.
Meter data verification ensures the correctness of the meter readings, which are used to create invoices. Accurate meter data leads to accurate invoices, reducing discrepancies and disputes.
Standard and custom reports provide detailed analysis and distribution of settlement and bill information, aiding in transparency, decision-making, and strategic planning in energy companies.
Reporting provides valuable insights into billing and settlement data, informing better decision-making, identifying trends, and assisting in the development of strategic plans.
Accurate meter data, ensured through verification, reduces billing errors, and thus decreases the chances of invoice disputes. It facilitates smoother financial management.
