YouDo works with Genesis Energy to transform hedging tool
YouDo transformed legacy system into a powerful tool for hedging operations at Genesis Energy
When Genesis Energy’s Portfolio team engaged us to modernise their legacy system, they were ready to revamp not just the application but the processes behind it.
We successfully replaced an outdated “suite of spreadsheets and tools” with one purpose-built interface that streamlines the process of assessing whether the balance between supply and demand across the Genesis portfolio are in line with hedging policies – a major advantage for New Zealand’s largest energy retailer.
With more granular portfolio insights, monitoring, and complex scenario analysis functions, the Portfolio Hedging Limits and Thresholds (PHLAT) tool has dramatically improved efficiency, accuracy, transparency, and collaboration for the Portfolio team and beyond.
This project with Genesis is another powerful use case of what traders can do when equipped with purpose-built tools for an increasingly complex energy market.
Slowed down by legacy systems
Genesis Energy’s Portfolio team relied on a suite of tools, including business-critical spreadsheets, but these had become increasingly difficult to use.
“It was evident that the spreadsheets were subject to data discrepancies. We needed a system that was more robust and could be managed by a range of people over time.”
– Lawrence Cogan, Portfolio Manager at Genesis Energy
The Portfolio team wanted a system with greater agility and precision, and sought an experienced technical partner to develop a solution. They found us, YouDo.
“YouDo genuinely wanted to find out more about the project. They didn’t just say ‘yes’ immediately, and thought carefully about whether they were capable of building the solution. This approach earned them credibility.”
– Lawrence Cogan, Portfolio Manager at Genesis Energy
While the context of this project was familiar to our team, we always take our time to understand a problem before throwing our hat in the ring. Our enquiring approach resonated with Lawrence and Oliver.
“They clearly knew our industry well, picking things up quickly and asking questions that indicated they knew exactly what we were after. YouDo put together an early model of what the tool might look like if we went ahead, and we were impressed.”
– Oliver Mooney, Energy Analyst at Genesis Energy
The PHLAT Tool’s Capabilities
Thanks to our close collaboration with Oliver and Lawrence, we were able to deliver a bespoke, user-friendly tool that far exceeds the original capabilities of the Portfolio team’s “suite of spreadsheets and tools”.
- Extract raw data inputs from existing Genesis data sources
- Perform basic summary calculations and modelling on the extracted data
- Visualise forecast generation, retail demand, and financial contracts over time
- Generate per-trading period forecasts for each station, considering various factors such as outages, hydrology, fuel availability, demand requirements, and typical running patterns
- Allow adjustment of data offsets to ensure compliance with trading policies and asset usage guidelines
- Construct customisable reports combining different datasets, which can be visualised as combination plots or tables.
- Group datasets and configure granularity as needed.
- Support scenario analysis by allowing manual overrides of base datasets
- Save reports for future reference and analysis.
“If you’d asked us a year ago, we wouldn’t have known what the finished product should look like. We worked closely with YouDo to find the best solution and improve the process as we went. The new solution had a deeper level of granularity; where the previous model only measured per month, this new tool could show us per half-hour.
YouDo got things done quickly, and often under budget. They were always enquiring how they could do more or do better, rather than pushing back on our requests.”
– Oliver Mooney, Energy Analyst at Genesis Energy
Transformative impact for trading teams at Genesis
With the implementation of the PHLAT tool, the Portfolio team is equipped to make informed,
strategic decisions with confidence:
Efficiency: Tedious manual tasks can now be completed in under a minute, greatly reducing manual effort and allowing more time for strategic decision-making.
Collaboration: Now all team members can access and use the tool for what they need,
streamlining hedging meetings and facilitating buy-in from the executive team.
Confidence: Detailed scenario analysis is now easier and more reliable, allowing for
informed decision-making with a higher level of trust in the data.
Accessibility: The intuitive interface and efficient functionality of the tool have encouraged
its regular use for everyday decision-making, beyond policy compliance.
Jane, Oliver, and Lawrence shared their experience of how the PHLAT tool has turned previous
bottlenecks and risks into everyday advantages:
“We were dependent on Lawrence to use the spreadsheets and, if he was away, things wouldn’t get done. Now any one of us can jump in and use it. It’s now much easier to run hedging meetings and get buy-in from the executive team.” – Jane Bydder, Group Manager Portfolio at Genesis Energy | “What would take an hour can be done in minutes. Rather than having to run SQL queries and manipulate them, you can just go in and get what you need. We couldn’t do that with the previous setup. We’re using the tool to help support everyday decision-making rather than just because of a policy. We’re using it more because it’s more user-friendly and efficient.” – Lawrence Cogan, Portfolio Manager at Genesis Energy | “We can run detailed scenarios a lot easier than previously, the kind of tasks we would try in the past but not with the level of trust we have now.” – Oliver Mooney, Energy Analyst at Genesis Energy |
“YouDo is small enough to care but big enough to deliver” – Genesis Energy
As we serve New Zealand’s largest energy players, we see our role as a small giant.
Customers choose us for our unparalleled knowledge of the energy sector and continue working
with us because we always deliver on time and within budget.
This combination of experience and agility makes us the perfect vendor for projects like this one
with Genesis, but also a trusted partner for further support into the future.
We’re proud to be delivering the technological innovations needed to keep the energy sector agile,
resilient, and competitive as it strives towards carbon zero targets.
