25 July 2022, 17:38
A digital engine that collects and displays in real time the prices applied on the market by all energy operators.
Saluzzo (CN), 25 July 2022 – eVISO S.p.A., an EGM-listed digital company (EVS.MI) with a proprietary artificial intelligence infrastructure that creates value for consumers and recurring commodity producers, evolves with NESTORE PRICE, the digital engine capable of processing electricity prices applied by major operators.
The new functionality complements the activities of the proprietary artificial intelligence engine called NESTORE, developed in-house by eVISO before the IPO: this engine collects in real time the data of the electricity purchase and sale offers submitted by each market operator, from the 7 Italian zones, for the day-ahead and intra-day electricity markets regulated by the Gestore dei Mercati Energetici (GME). Through NESTORE, eVISO’s operators as well as artificial intelligence algorithms can reconstruct the purchase costs, trading strategies and margins (loss and profit) of each individual Italian electricity market participant that is active on the GME.
Based on the data collected by law by the Regulatory Authority for Energy Networks and Environment (ARERA), which collects the prices of Italian electricity suppliers, eVISO’s artificial intelligence platform, NESTORE PRICE, organises and displays to its sales and technical staff the offers made to the market by other operators in the sector.
In practice, NESTORE PRICE is capable of organising and visualising very sophisticated specifications related to the pricing applied by operators, such as: consumption thresholds, fixed or variable price option, payment terms, coefficients used and timing of offers, just to name the main ones.
While NESTORE’s existing functionality thus reconstructs the spot procurement costs of each individual electricity operator active on the GME, the new PRICE functionality closes the circle by collecting and organising the prices applied by operators to their customers.
This new functionality enables eVISO to respond quickly to the many changes in the prices applied to the market and to reconstruct the competitive positioning strategies of the players in the electricity supply chain.
From a number point of view, the platform processed more than 57,000 business proposals corresponding to more than 3,000,000 details entered into our data lake. A second skimming was then carried out from which 1,900 unique proposals emerged, enabling eVISO to compare its tariff plan with over 150 competitors. This gives eVISO’s decision makers one more tool to quickly check competitors’ pricing strategies in detail.
Denny Terreno, Data Scientist & Software Developer at eVISO, remarked “We believe that NESTORE PRICE has enormous potential because it can be used in any automated process or algorithm in the future, enabling eVISO to strengthen its offering and confirming its leadership in the data-driven approach in the commodities market”.
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This press release is available in the Investor Relations section of the website www.eviso.ai. Please also note that, for the dissemination of regulated information, the Company uses the eMarket SDIR circuit managed by Spafid Connect S.p.A., with registered office at Foro Buonaparte 10, Milan.