𝐆𝐫𝐚𝐛 𝐏𝐃𝐅 𝐓𝐨 𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞➜ https://www.theinsightpartners.com/sample/TIPRE00026581/

Energy trading and risk management (ETRM) refer to a set of software programs, platforms, and tools that aid in the execution of business activities involving the trade of energy commodities. It is made up of a series of functions that vary depending on the commodity traded, the assets employed in the business, the location of those assets, and the company's business strategy and operations. The ETRM system is designed to meet the trading needs of a liberalized energy market, allowing market participants to trade a wide variety of contracts throughout the globe.

The global energy trading, transaction, and risk management (ETRM) market has a huge scope for applications in crude oil, natural gas, electric power, refined petrochemical products, and NGLs, which is offering profitable chances for the industry's development. Due to the demanding industrial and regulatory contexts, software tools and technologies in the global energy trading, transaction, and risk management (ETRM) market are in high demand. These software technologies serve players in the oil and petrochemical industries by assisting with regulatory compliance, speeding up trade activities, and lowering risk coverage.

Streamline the development of energy trading and risk management (ETRM) applications

Energy trading and risk management (ETRM) involves developing and adapting models to manage energy assets and build commodity trading strategies. These ETRM applications help analysts respond to changing demands and operational constraints.

Critical ETRM tasks include:

·         Importing and visualizing energy data from multiple sources

·         Building predictive models of energy time-series data

·         Running Monte-Carlo simulations for valuation and risk assessment

·         Optimizing physical generation and storage assets

·         Deploying energy trading and risk management applications on enterprise systems

KEY TAKEAWAYS

·         Avoidance means not participating in activities that could harm you; in the case of health, smoking is a good example.

·         Retention acknowledges the inevitability of certain risks, and in terms of health care, it could mean picking a less expensive health insurance plan that has a higher deductible rate.

·         Sharing risk can be applied to how employer-based benefits are often more affordable than if an individual gets their own health insurance.

·         Transferring risk relates to healthcare in that the cost of the care is transferred to the insurer from the individual, beyond the cost of premiums and a deductible.

·         Loss prevention and reduction are used to minimize risk, not eliminate it—the same concept is used in healthcare with preventative care.