Genstar4 Contract Manager
Settlement of contracts dependent on complex calculations linked to usage data calls for automated processing in an integrated environment. Contract Manager can be used to manage a single contract or a contract portfolio of any size, e.g. high volume electricity supply contracts. Of particular value is the management of related contracts, e.g. PPAs, CfDs, tolling contracts, fuel agreements, water contracts, O&M contracts, etc, which may have settlement dependencies.
Contract Manager provides a fully configurable yet secure environment for contract settlement while fully complying with audit requirements.
Genstar4 uses a knowledge-based approach to contract implementation, working with the expert users to ensure the most effective configuration in the system.
The Contract Manager module supports the following activities:
- Configuration of the contracts into Contract Manager.
- Performing settlement for each payment/charge in the contracts.
- Managing changes to the contracts over the contract lifetime.
Configuration of the contracts
- The contract terms and conditions are modelled in the system as mathematical algorithms. The configuration is performed by Dunstan Thomas as part of the project deliverable, but the algorithms and their associated parameters and values can be maintained by trained users to reflect changes during the contract lifetime.
- Standard contracts can be held in the system as user-defined templates, which can then be customised or cloned to generate the contract portfolio.
- Payment types (e.g. energy fee, capacity fee, bonus/penalty fees) or tariffs can be assigned to contracts with price indexation applied at user-defined intervals.
- Details of the contract counterparties, including payment terms and application of taxes can be specified for each contract.
- Contracts based on usage data can be associated with a physical hierarchy so that the appropriate meter data can be used for contract settlement.
Performing contract settlement
- Each contract settlement execution schedule is configurable for any time/day. In addition to automated scheduled settlement, ad hoc runs can be triggered manually at any time to provide ‘to date’ results. All settlement runs are versioned and fully audited.
- Scheduled reporting of results is also configurable. Reporting requirements, including invoices, can be met through the flexible Genstar4 Report Manager. This also provides full query of the database so any combination of data can be reported on.
Managing contract changes
- New contracts can be added to the contract portfolio as there is no limit to the number of contracts that can be managed by the system. Both new contract types and new examples (for new contract counterparties/customers) of standard contracts which are already configured into the system can be added. Variations of standard contracts can be created by changing the configurable details.
- Where there are changes to a contract during the contract lifetime, the user can create a contract amendment under version control. Amendments are associated with ‘effective dates’ so will automatically be included in settlements at the defined time points.
- Contract performance can be optimised through modelling amendments under version control. Once the results are evaluated the user can revert to the live contract.
Comprehensive administration facilities, including a full audit trail, data tracking and setting access rights provides essential security and support to users.
Contract Manager can be interfaced to existing applications using CSV, XML or HTML.
Genstar4 also provides full support for dispatching power stations via EDT.
For information on Genstar4 follow the following links:
To learn more about power station dispatch in the UK visit the EDL and EDT pages or Contact Dunstan Thomas for a product demonstration of Genstar4.
Click here to request a call back or telephone 02392 822 254