Mercuria Energy Trading Selects Stem’s PowerBidder™ Pro to Optimize Market Operations in ERCOT

Rhea-AI Summary

Stem (NYSE: STEM) partners with Mercuria Energy Trading to optimize bid management for energy storage in ERCOT, using Athena PowerBidder Pro. Mercuria aims to enhance renewable energy strategies with Stem's advanced technology.

Insights

Energy Market Analyst

The integration of Stem's Athena PowerBidder Pro with Mercuria's energy trading operations signifies a strategic advancement in the energy sector. The application's ability to optimize bidding strategies for energy storage systems (ESS) in the ERCOT market can potentially enhance Mercuria's competitive edge. This tool's advanced analytics and real-time performance metrics are crucial in a market where energy prices are highly volatile and demand responsiveness is key to profitability. The ESS's role in grid stability and renewable energy integration also underscores the importance of effective bid management systems. As the energy market shifts towards renewable sources, tools like PowerBidder Pro may become industry standards for managing the complexities of energy trading and storage.

Renewable Energy Consultant

Mercuria's commitment to directing over 50 percent of its investments into the energy transition by 2025 is a significant move within the renewable energy landscape. The adoption of Stem's Athena PowerBidder Pro demonstrates the company's proactive approach to leveraging technology for optimizing renewable energy assets. This partnership could serve as a model for other energy traders looking to enhance the performance of their renewable investments. The scalability of the PowerBidder Pro application is particularly relevant as it allows for the management of growing ESS portfolios, which is critical for companies aiming to increase their renewable energy footprint while maintaining effective risk management strategies.

Financial Technology Analyst

From a financial technology perspective, the selection of Stem's PowerBidder Pro by Mercuria reflects a growing trend of integrating advanced software solutions into traditional industries to drive efficiency and returns. The focus on configurability and automation within the PowerBidder Pro application could lead to reduced operational costs and increased margins for Mercuria. The ability to customize trading strategies to specific ESS constraints and market conditions is a sophisticated approach that can provide Mercuria with a distinct advantage in the energy trading market. As the application is adopted and its effectiveness is proven, it may influence the valuation of both Stem and Mercuria by signaling to investors the potential for improved financial performance through technological innovation.

Stem’s market bidding tool to enable leading global energy trader to quickly scale battery operations

SAN FRANCISCO--(BUSINESS WIRE)-- Stem (NYSE: STEM), a global leader in AI-driven clean energy solutions and services, today announced that its Athena^® PowerBidder™ Pro application has been selected by Mercuria Energy Trading, a leading global energy trader, to support bid optimization management for its first energy storage system (ESS) in Electric Reliability Council of Texas (ERCOT). Under this software-only contract, Mercuria will leverage PowerBidder Pro’s award-winning combination of configurability, cutting-edge analytics, advanced price forecasting and bid optimization, and seamless automation to develop customized trading strategies for its energy storage assets to participate in ERCOT, power supplier to more than 26 million customers representing approximately 90 percent of the state's electric load.

“Stem is successfully operating assets in North American wholesale markets on behalf of asset owners. Listening to our customers, we identified a need in the market for a software solution that puts traders and asset owners fully in control of strategies while enabling scaling and automation,” said Cedric Brehaut, Vice President of Cloud Solutions at Stem. “We are excited to announce Mercuria as our first PowerBidder Pro customer. PowerBidder Pro layers and automates customized trading strategies on top of Athena’s industry-leading forecasting and optimization capabilities. We look forward to helping Mercuria drive portfolio returns and effective risk management in the ever-evolving ERCOT market, and in other markets in the near future.”

Cody Moore, Head of Gas and Power Trading at Mercuria, said, “With more than 20 gigawatts (GW) of renewable energy in our investments pipeline and our commitments to direct more than 50 percent of our investments into the energy transition by 2025, Mercuria is diligently working to ensure our renewable energy strategies are fortified with high-performing technologies and partners who can help us further optimize renewable assets. We are excited that Stem’s PowerBidder Pro application will fit into our traders’ existing workflows, allowing us to bring our differentiated knowledge of energy markets while leveraging Stem’s unique technology optimizing battery operations to create an ideal pairing of two best-in-class capabilities.”

Available on the Athena Platform, Stem’s PowerBidder Pro will offer Mercuria access to real-time performance metrics, industry-leading forecasts and analytics, and customizable configurations necessary to tailor trading strategies to ESS constraints, contractual obligations, and Mercuria’s unique risk management objectives and views on volatile market conditions. As Mercuria’s ESS portfolio grows to meet its energy transition objectives, PowerBidder Pro will offer a scalable solution designed to seamlessly manage trading strategies across its entire storage ESS portfolio, including across different ISO markets. With PowerBidder Pro, Mercuria will be empowered to drive returns and manage risk effectively.

In addition to PowerBidder Pro, Stem offers its world-class services to customers who need direct support in managing their assets. Stem’s energy experts provide operating services using PowerBidder Pro on behalf of our customers. With experience across 200,000 sites in over 50 countries, Athena and PowerBidder Pro bring together a market-leading solution.

Learn more about PowerBidder Pro at stem.com/powerbidder-pro.

About Stem

Stem (NYSE: STEM) provides clean energy solutions and services that are designed to maximize the economic, environmental, and resiliency value of energy assets and portfolios. Stem’s leading AI-driven enterprise software platform, Athena^® enables organizations to deploy and unlock value from clean energy assets at scale. Powerful applications, including AlsoEnergy’s PowerTrack, simplify and optimize asset management and connect an ecosystem of owners, developers, assets, and markets. Stem also offers integrated partner solutions to help improve returns across energy projects, including storage, solar, and EV fleet charging. For more information, visit www.stem.com.

About Mercuria Energy Trading

Established in 2004, Mercuria is one of the world's largest independent energy and commodity groups, revolutionizing the commodity value chain through technology, expertise, and low-carbon solutions. The company has firmly positioned itself as a leader in the energy transition, with over 50 percent of its new investments directed towards renewables and transitional energy. Mercuria has made substantial contributions to projects such as renewable power, energy storage, grid optimization, critical transition minerals recycling, and environmental products, showcasing its dedication to a sustainable future. www.mercuria.com.

Source: Stem, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240228173320/en/

Stem Investor Contacts

Ted Durbin, Stem

Marc Silverberg, ICR

IR@stem.com

Stem Media Contact

Suraya Akbarzad, Stem

press@stem.com

Mercuria Media Contacts

Matt J. Lauer

Benoit Lioud

communications@mercuria.com

Source: Stem, Inc.

FAQ

What is Stem's ticker symbol?

Stem's ticker symbol is STEM.

Who selected Stem's Athena PowerBidder Pro application?

Mercuria Energy Trading, a leading global energy trader, selected Stem's Athena PowerBidder Pro application.

Where will Mercuria use Stem's PowerBidder Pro application?

Mercuria will use Stem's PowerBidder Pro application for bid optimization management for its first energy storage system in Electric Reliability Council of Texas (ERCOT).

What are the key features of Stem's PowerBidder Pro application?

Stem's PowerBidder Pro application offers configurability, cutting-edge analytics, advanced price forecasting, bid optimization, and seamless automation.

How will Stem's PowerBidder Pro application benefit Mercuria?

Stem's PowerBidder Pro application will help Mercuria develop customized trading strategies for its energy storage assets to participate in ERCOT and other markets, driving portfolio returns and effective risk management.