This year the Energy Regulators Regional Association (ERRA) once again announced its industry call for papers exploring new opportunities in the realm of energy market regulation. A Navitasoft employee won the call for papers with a study on gas market balancing.
The Energy Regulators Regional Association (ERRA) has hosted its international industry competition, the ERRA Regulatory Research Award, every year since 2014. The Award aims to attract noteworthy scientific papers that, once implemented in practice, are capable of fostering more efficient operation of energy regulators and identifying new opportunities.
This year, the prize went to a paper by Navitasoft senior business analyst Pálma Szolnoki entitled ’Monitoring Natural Gas Balancing Markets - A practical guide for regulators on how the performance of the implemented balancing mechanisms can be assessed. ERRA chairman Mart Ots congratulated Ms Szolnoki, saying that “the gas market balancing model carries significant theoretical and practical value and will be of particular value for energy regulators involved in natural gas market liberalisation”.
The official award ceremony held on 25 September in Kazakhstan at the Annual ERRA Investment and Regulation Conference. Pálma Szolnoki presented her paper before the industry experts and regulatory authority representatives in attendance.
“We are thrilled that the scientific workshop efforts at Navitasoft, a cornerstone to our success, have once again been recognised. Our business analysts, mathematicians and developers working in the field of energy are continuously seeking solutions that open the door for new opportunities on the liberalised energy market and which, incorporated into our IT platforms, can be applied in practice” — added Navitasoft CEO Ákos Füzi. Over the past year the company has put its expertise to work in several international projects, including a solution created for Bulgartransgaz that employs a multi-player model to manage the gas market transmission system. Ukraine is currently harmonising its gas trading rules with the European Union using Navitasoft software platforms, and designing a gas market balancing system compliant with the EU is also a key project deliverable. Navitasoft has also contributed to several successful projects in Croatia, with HEP and PSP employing its energy trading and gas storage support solutions.