One of Erova’s first key counterparts was an independent GB electricity and natural gas supplier with varying customer demand.
Customer A said “Erova Energy quickly became one main routes for short-term electricity balancing market for the wholesale GB power market, both through their competitive pricing of non-standard trade profiles (which matched our end-customer demand) but also through their highly efficient trade settlement procedures.”
Erova was a key counterparty during the ‘beast form the east’ in early 2018 and during the cold spell of Winter 2017. Customer A continued to say “It is evident that Erova’s expertise in short term markets enables them to be nimble in pricing customer trade types and offering flexible credit and payment terms”
Erova currently manage the forecasting and balancing of a portfolio of 21 Solar farms spread across the UK. Following a competitive tender process a bespoke contract was created based upon a fixed discount to market with the option for the generator lock into a forward price at any given time.
Erova also purchase and trade the Renewable Obligation Certificates (ROCs) and provide all REMIT reporting services for each asset within the portfolio.
With the recent changes in the Irish electricity market, Erova have been working with a number of independent generators on reducing their risk exposure after becoming balance responsible within I-SEM.
Our team worked closely with the generator (a large investment fund with wide experience in the European renewables market) to develop a product that would remove the balancing risk at the lowest cost possible whilst maintaining the current contract relationships to fulfil all REFIT obligations.
Erova provide Customer C with our latest Imbalance Hedge product, please contact our Origination team to find out more details.