Energy Trading Week Insider: navigating the digital energy transition
27 November 2023
In this interview, Howard Walker, CEO of America's for Commodities People, talks with Talis Bennett-Verschure, one of Baringa’s Energy and Resources experts about the digital energy transition and its impact on the energy market. They discuss the challenges organizations face in keeping up with rapid developments in technology and data insights, especially in the context of the ongoing energy transition towards low carbon solutions.
Talis highlights increased volatility in commodities due to geopolitical tensions and the energy transition. Businesses are striving to be scalable and flexible across people, processes, and technology to adapt to the changing market. Traditional Energy Trading and Risk Management (ETRM) systems are seen as insufficient for supporting new requirements associated with low carbon technologies and advanced analytics.
The conversation explores how the role of ETRM is evolving from being the central hub of trading data and technology to a more data-centric approach. Talis emphasizes the importance of low-code and no-code tools, quicker access to trusted data, and data analytics independence from IT. They also discuss where organizations stand in their data transformation journey, with some struggling to start, some losing sight of value capture, and others advanced but struggling to find experts to scale their technologies.
Overall, the interview sheds light on the challenges and opportunities presented by the digital energy transition and how organizations can navigate this complex landscape with the help of experts like Baringa.
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