Currently there are 4 key functions that are contained within the Risk Management Administration Menus. They are:-
- Uploading the official price curve for gas daily
- Upload official price curve HH electricity as well as select the official curve
- Confirm trades for gas and power by checking confirms from suppliers, change the status, edit trades and store changes. Search trades view revised status.
- Upload purchase requirements by basket
Uploading price curves
Key to managing risk is the daily upload of end of day pricing so that all energy positions are understood versus the overarching strategy. Currently the official price curve is uploaded in HH format for power, and daily for gas.
Electricity and gas price curves are uploaded using the screen below and can be found by navigating to Forward curve and then selecting Add Forward Curve.
To add a forward curve the user has to add either a gas or electricity curve by downloading the template, populating the data and then uploading using the browse Upload File feature.
The risk team are also responsible for providing confirmations to the counterparty with which they have traded. For now, this is completed using the confirmation template.
Here the risk manager should view trades by navigating to the Trades icon on the left-hand main menu. By selecting Search Power Trades, or Search Gas Trades the risk manager can view the entire list of trades and click the status bar to find the trades which are marked as pending. From here you can then manually compare the deal with the actual confirm from the supplier and click on the deal.
The user can then click on the Deal ID which is marked as pending and confirm the trade using the button within the Quick Links box on the right of the screen. There is also the option of to edit trades or add a note.
Updating Purchase Requirements
The risk manager can also revise or enter a new purchase requirement or forecast and flag this by using the forecast icon on the banner on the left-hand side of the screen. The user can click on the create forecast or purchase requirement, select the commodity and download the relevant template for the commodity.