News

Leading North East technology specialist Rocket Solutions has completed a unique project for the largest coal-fired power plant in the UK.

Rocket Solutions has designed, developed and implemented a new market intelligence solution for Drax which monitors the energy market and the complex patterns within it. This enables the business to make quick decisions and trade effectively.

Drax is the cleanest and most efficient coal-fired power plant in the UK and currently provides enough power to meet seven per cent of the UK’s electricity needs. It has an output capacity of 4,000 megawatts, making it nearly twice the size of the next largest coal-fired power station in the UK.

The solution, Market Eye, collects and presents large volumes of live data in visual displays for coal, carbon, power, gas and oil – refreshing every few seconds to give the very latest market shifts.

This information can then be used to gain an insight into market patterns and news and important data can be quickly shared across the team for immediate action. New data feeds, reports and analytics can also be incorporated very quickly.

Justin Short, Managing Director at Rocket Solutions, said: “Business Intelligence is a really important support tool to have within a business - giving firms a greater insight into the market place and also looking at the effectiveness of internal operations.

“Using Microsoft SQL Server, SharePoint and PerformancePoint we have been able to create and develop a very successful business support tool.

“The work we have completed with Drax is a great example of how it can be used to influence a business through key market data and market shifts.”

Damien Speight, Head Trader at Drax, said: “Market Eye is a sophisticated and dynamic analysis tool which is personalised to our trading needs.

“Compared to the old system, which was manually intensive and slowed down our decision making, Market Eye has brought the commodity markets to our fingertips allowing us to access more information in a more manageable way and execute our trades with an eye on the ever changing market conditions.”
 
Justin Short added: “The current business climate is difficult for many businesses so it is important that firms of all sizes make full use of their existing data and intelligence. By implementing some of these readily available technologies, businesses can gain more market knowledge, analyse current trends and get ahead of the competition.”