Rayburn Electric Cooperative Goes Live with PCI’s Cloud Platform to Meet its Member Billing Requirements
HOUSTON--(BUSINESS WIRE)--Apr 14, 2021--
Rayburn Electric Cooperative, (“REC” or “Rayburn Electric”), has gone live with PCI’s Enterprise Platform to manage its member billing and settlement validation requirements in the Electric Reliability Council of Texas (ERCOT) power market.
As part of this new partnership, PCI deployed its specifically tailored, cloud-based, integrated platform to replace Rayburn Electric’s legacy system and several in-house applications. The new Member Billing Solution implemented by PCI, enables Rayburn Electric to:
- Manage multiple member power supply contracts, including power purchase agreements (PPAs)
- Perform billing calculations leveraging PCI’s settlements business rules engine
- Validate and allocate ERCOT settlement charges
- Manage various billing components including transmission, distribution, and service costs
- Interface with upstream and downstream (physical, telemetered, and G/L accounting) systems
- Maintain comprehensive auditability with all data versions
- Automate invoice creation and management workflows
Rayburn Electric CEO and President, David Naylor noted, “We are committed to our members and continually strive to add value to their portfolios and implementing a comprehensive billing platform offers increased transparency for them.” Adding, “We are proud to partner with PCI on this project and appreciate the professional collaboration for delivery of a robust platform.”
Rayburn Electric obtains power from various sources to maintain lower power costs for its members. Renewables are a key part of the cooperative’s portfolio, including hydroelectric power from Denison Dam and several solar projects located within its territory.
“We have a rich history of serving the public power sector and have found a great customer partner in Rayburn Electric, one that has a matching customer-centric mindset. The successful go-live represents our continued success in delivering a reliable and value-generating software platform,” said PCI Vice President, Shailesh Mishra.
As part of the next phase of this project, Rayburn Electric plans to leverage the PCI Platform to provide its customers with a dedicated member portal application for on-demand access to energy data and enhanced reporting. PCI’s Platform offers unmatched functionality for public power entities to optimize their generation and transmission portfolios, including co-optimization of Energy Storage Systems (ESS) in wholesale power markets.
About Rayburn Electric Cooperative
Rayburn Electric Cooperative (Rayburn Electric) is a non-profit generation and transmission electric cooperative, formed in 1979 by seven distribution cooperatives in Northeast Texas. It is a source of adequate, reliable, and affordable wholesale electric energy that meets the needs of its members. The cooperative has been certified as a transmission owner/operator by ERCOT and operates its own network of transmission lines within the ERCOT footprint. All Rayburn Electric operations comply with not only ERCOT, but also with the Public Utilities Commission of Texas, North American Electric Reliability Corporation (NERC), and Federal Energy Regulatory Commission (FERC). To learn more, please visit www.rayburnelectric.com.
About Power Costs, Inc. (PCI)
PCI is the leading provider of energy trading software, superior customer support, and value-added services for energy companies worldwide. Founded in 1992, PCI continues to refine and develop new solutions that meet the ever-evolving needs of its clients which include renewable energy companies, investor-owned, municipal and cooperative utilities, energy marketers and traders, as well as independent power producers. PCI optimizes more than half the power generated in North America, and more than 60% of the Fortune 500 Energy and Utility firms in the U.S. are PCI customers. The firm is privately held and based in Norman (OK) with regional offices in Houston (TX), Raleigh (NC) and Mexico City. To learn more, please visit www.powercosts.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210414005265/en/
CONTACT: Media Contact:Stuart Wright
Power Costs, Inc. (PCI)
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY PROFESSIONAL SERVICES OTHER CONSUMER UTILITIES SOFTWARE NETWORKS ALTERNATIVE ENERGY ENERGY CONSUMER FINANCE
SOURCE: Power Costs, Inc.
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PUB: 04/14/2021 10:00 AM/DISC: 04/14/2021 10:01 AM