Reimagining Energy Supply, Trading and Risk Management for Oil and Gas
Create a data-centric digital ecosystem across Supply, Trading, and Risk to unlock value by increasing agility, streamlining business processes, and enabling next-generation decision support and portfolio optimization capabilities.
Market Changes Have Accelerated the Case for Transformation
Opportunity Created by Complexity and Volatility
Global energy markets are becoming increasingly complex and experiencing unprecedented levels of volatility. The energy supply is constrained due to years of underinvestment, and its growth is being challenged by the financial impacts of the energy transition and rising inflation. Additionally, geopolitical unrest in Europe has exacerbated supply chain disruptions and reinforced the demand shift that began during the pandemic.
However, with complexity and volatility comes a unique opportunity to create exponential value by ensuring your organization has the systems and processes in place to respond with agility.
Adapting to the Evolving and Interconnected Commodity Market Landscape
The rapid evolution and increasingly interconnected nature of global energy markets has accelerated the case for transformation. To thrive during the energy transition, Power & Utilities organizations must adapt quickly and develop new capabilities and digital pipelines to capture opportunities across geographies and asset types.
External Factors Impacting Organizations
- Geopolitical unrest and the energy transition are shifting global energy market dynamics and organization portfolio mix.
- Hydrocarbon supply growth is challenged by rising costs, longer lead times, increasing regulation, and fiscal constraints associated with rising inflation, increasing carbon taxes, and long-term reserve devaluation.
- Oil & Gas and Power & Utility markets and infrastructure are becoming increasingly interconnected, driving the need for greater transparency and risk management across value chains.
- New energies and new energy markets are rapidly emerging and changing the landscape.
- Businesses are committing to net-zero emissions more and more, putting increased pressure on power and grid.
- Expanded use of external financing by power and gas companies, and independent power producers (IPPs) to scale up their renewable assets is exposing their companies to interest rate risks.
- Market regulators are increasingly looking at new market designs and innovative market regulations and mechanisms to meet the ambition of energy transition and address the unique needs of renewables.
Evolution of the Commodity Market Landscape
- Feed Stock/Fuel: Rigs, Wells, Oil, Natural Gas, Biofuel, RNG, Agro
- Generation: Coal, Hydropower, Natural Gas, Nuclear, LNG, Batteries, CCS & CO2, Solar, Alternative Fuels, H2, Ammonia, Hydrogen Fuel, Emission, Wind, Renewable Credits
- Transmission: Pipelines, Power Lines, Industrial
- Distribution: Pipelines, Power Lines, Industrial, Commercial
- Retail/End Customer: Commercial, Residential, Storage, Steel, Green Transportation, Cement, Agro, Credits, Renewable Credits, EV, Residential Solar, Storage
Addressing aging systems, manual business processes, and the proliferation of data silos across Supply, Trading, and Risk to increase agility and harness the power of artificial intelligence (AI) is a critical step in capturing value during the energy transition.
Conducting Business Across the Front, Middle, and Back Office
Managing with Legacy Infrastructure and Manual Processes
Organizations rely on a suite of specialized commodity/energy trading and risk management (C/ETRM) packages, shadow systems, and extensive manual processes to manage their business.
These specialized C/ETRM packages are effective for single commodity, single market operations, but they were not designed to support cross-commodity, multi-jurisdiction trading and risk analysis. Additionally, most C/ETRM systems lack integrated deal capture, contract management, scheduling, and reporting capabilities, and have limited front-office and mid-office capabilities.
Common efforts to address C/ETRM system capability gaps have resulted in complex business architectures that are inherently inflexible, inefficient, and costly to support. The prevalence of disconnected, highly customized solutions, complex system integrations, and manual data entry and reconciliation processes in these C/ETRM-centric business architectures restrict agility, hinder innovation, and increase the level of risk associated with security breaches and human error.
Internal Challenges
- The prevalence of inflexible, commodity-specific, on-premise core C/ETRM systems with overlapping functionalities causes data silos and process inconsistency.
- Data silos, limited automation, and a lack of collaboration tools restrict timely, data-driven trade and risk analysis and hinder the use of artificial intelligence (AI) to unlock next-generation business capabilities.
- "Systems of record" functionality of C/ETRM systems limits the ability to support front office requirements including forecasting, pricing, and negotiations.
- Commodity-specific system nuances drive over-customization and complex, multi-system architectures which are costly to support, difficult to integrate, and result in latency issues.
- Capability gaps, limited solution options, and the slow pace of C/ETRM modernization hampers the ability to optimize, innovate and support the Energy Transition.
- Extensive manual intervention in data aggregation, analysis and reporting across the front, mid and back office increases the risk of human error and security breaches and limits the time available for higher value-add activities.
Common Supply, Trading, and Risk Personas and Tools
Personas:
- VCO* / Front Office:
- Supply Chain / Marketer
- Trader
- Scheduler & Operator
- Value Chain Optimizer
- Middle Office:
- Trading Operations Manager
- Market Risk Manager
- Credit Manager
- Contract Manager
- Back Office:
- Accounting Manager
- Regulatory Manager
- External Interfaces:
- Trading Exchanges
- Market Data
- eConfirm
- Carbon Credit Registries
- Reporting
- Taxes
Shared Tools:
- C/ETRM Packages (commodity focused, region focused, business focused, hybrid)
- Master Data Management (Systems of Record)
Function-Specific Tools:
- VCO / Front Office:
- Pipeline Bulletin Boards
- ISOs (OATI) / Transmission
- Scheduling Tools
- Forecasting
- Optimization
- Middle Office:
- Confirmations (eConfirm)
- Risk Consolidation / Reporting
- Credit Data / Solutions
- Contract Management
- Office Systems
- Back Office:
- ERP
- Tax Calculation & Reporting
- Reconciliation Reporting
- Regulatory Reporting
- Corporate Functions: Accounting, Legal, Governance, Sustainability, Procurement, HR, IT, etc.
*Value Chain Optimization
Moving away from a C/ETRM-centric architecture and streamlining business processes across the front, mid, and back office is necessary to reduce cost, complexity, and risk and address the rapidly evolving needs of the business.
Unlocking Value by Creating a Connected Data Landscape Across Supply, Trading, and Risk
Digital Ecosystem Value Drivers
A connected data landscape enables organizations to unlock value by increasing agility, streamlining business processes, and enabling next-generation decision support and portfolio optimization capabilities.
- Gain agility to maximize value in a rapidly evolving commodity market by enabling real-time, data-driven decision making and rapid response to market changes.
- Accelerate decision-making and enhance collaboration and innovation by breaking down data silos and enabling seamless information sharing across the organization.
- Optimize portfolios and achieve sustainability goals by enabling end-to-end visibility across the value chain, from supply to trading to risk management.
- Enable next-generation business capabilities and unlock new sources of value by harnessing the power of artificial intelligence, advanced analytics, and automation.
- Automate business processes to improve efficiency, reduce risk, and free up resources for higher value-add activities.
Maximizing Value While Maintaining Critical Operations
Our approach to modernizing Supply and Trading builds upon existing capabilities to minimize disruption to the business while building a strong digital foundation to unlock value now and in the future. These objectives will be achieved by:
- Leveraging existing C/ETRM systems or replacing legacy C/ETRM systems that are past their shelf-life with respect to new market regulations
- Embracing open, modular development
- Following foundational data integrity and security principles
- Enabling seamless business process automation to free up resources to focus on exceptions, validation, and analysis
- Integrating comprehensive artificial intelligence capabilities to accelerate data-driven decision-making and enhance trade and risk analysis
- Drastically improving the user experience to enable modern, mobile, real-time decision support and collaboration tools
- Reducing integration complexity to allow the business to unlock higher-value workflows without disrupting day-to-day business
- Enabling transformative capabilities and the creation of new revenue streams to accelerate value creation
- Delivering continuous value by employing agile methodology
Next-Generation Supply and Trading Solution Framework
Transform Your Business with a Data-Centric Digital Ecosystem
Our vision for a data-centric Supply and Trading digital ecosystem includes three core architectural components:
- Service and integration layer leveraging comprehensive AI and low-code capabilities to create next-generation business services and digital user channels.
- Unified commercial analytics platform to securely bring together data and analytics capabilities across Supply, Trading, and Risk and unlock high-value AI-enabled workflows.
- Common commercial infrastructure layer with core systems to execute and record business-critical processes across Supply, Trading, and Risk.
Conceptual Solution Architecture
- Digital User Channels: Supply | Trading & Risk Management | Contracts | Accounting | Retail / Marketing
- Business Services:
- End-to-End Process Integration (E2E PI)
- Overall Margin
- Portfolio Management
- Supply Optimization
- What-If Scenarios
- P&L Attribution
- Foundation & Utility Services:
- Security
- Data Orchestration
- Process Automation
- Master Data
- Data Quality
- Frameworks & Libraries
- Common Data Models
- Service & Integration Layer
- Data & Analytics: Unified Commercial Analytics Platform across Supply, Trading & Risk
- External Integration:
- Trading Exchanges
- Market Data
- Reporting
- Carbon
- Price Forecasting
- Transmission
- Regulatory
- Supply:
- Trading
- Demand Forecasting
- Price Forecasting
- Margin
- Scheduling
- Nominations
- Inventory
- Actualization
- C/ETRM Services:
- Deal Capture
- Deal Pricing
- Scheduling
- Nominations
- Inventory
- Actualization
- Other Core Systems:
- Infrastructure & Enablers:
- Commodities & Common Data Models
- Integration Services
- Security & IAM
- Collaboration
- Service Management
- Analytics
- Low-Code Agility & AI
- Data Lake & BI
- AI & ML
- Analytics Platform
- ERP
- Existing ERP Solution(s)
Accelerate Value with Artificial Intelligence-Enabled Workflows
One of the most significant benefits of moving to a data-centric architecture is the ability to unlock AI and Generative AI-enabled use cases.
Imagine traders using simple queries to analyze third-party demand forecast predictions, generate simulated forecasts, and get recommendations on hedge positions and value optimization. Demand forecasting is just one of a long list of potential use cases for real-time decision support across the front, middle, and back office.
AI and Generative AI-Enabled Use Cases Across Supply, Trading, and Risk
- VCO* / Front Office:
- Demand forecasting
- Market simulation
- Price forecasting
- Schedule generation
- Sentiment analysis
- Policy and regulatory impact
- Optionality and arbitrage opportunities
- Middle Office:
- Credit ratings and scoring
- DOA & credit limits assessment
- Trade reviews and comparison
- Contract review and analysis
- Contract generation
- Risk policy violations
- Bid and offers
- Automated hedging
- Back Office:
- Automated reconciliation reporting
- Invoice matching
- Multi-variable data quality checks
- Management reporting
- Financial statement generation
- Regulatory reporting
- Independent monitoring of changes in regulation
- Connected Workforce: Employee Chat & Help Desk
- Information Discovery: Expedite analysis by querying disparate document types and sources such as contracts, financials, etc.
- Co-pilots for M365, BI, Development, etc.: Prompt co-pilots to create content, visualizations, apps, etc.
*Value Chain Optimization
AI-enabled business use cases will define the next generation of Supply, Trading, and Risk operations. Organizations who embrace artificial intelligence will accelerate their ability to thrive during the energy transition by improving margins, dramatically enhancing productivity, and developing transformative capabilities and new revenue streams.
Embarking on the Transformation Journey
A critical first step in shifting from a C/ETRM-centric architecture to a data-centric digital ecosystem across Supply, Trading, and Risk is to define a framework for your transformation journey—one that prioritizes business outcomes and maps to a relevant value case.
Foundational activities to consider when defining the framework to move from a C/ETRM-centric architecture to a data-centric Supply and Trading ecosystem include:
- Decoupling front, middle, and back-office systems
- Identifying and reducing/eliminating shadow systems
- Using containers to migrate from in-house storage and compute to the cloud
- Federating and contextualizing data within the cloud to enable extensive analysis
Executing these steps while identifying, automating, and eliminating low-value add tasks will reduce complexity and risk, and deliver more than enough cost savings to fund the next phase of transformation: implementing platform-level AI and Generative AI, innovation, and collaboration capabilities to unlock new business use cases such as:
- Creating dashboards with real-time insights based on streaming market and peer data and intraday visibility to key trading and risk, portfolio, and financial metrics
- Leveraging AI and Generative AI to enable trader decision support and trade recommendations
Supply, Trading & Risk AI + Generative AI-enabled Use Cases
- Corporate Generative AI-enabled Use Cases:
- Automating trend and trade analysis, contract reviews, and terms and conditions evaluation
- Developing a user-friendly, mobile, integrated trading view with co-pilot capabilities
- Optimizing and automating scheduling recommendation and contract generation
- Integrating open-source risk analytics
- Cross-commodity, multi-jurisdiction portfolio optimization
- End-to-end carbon auditability and full-cycle cost analytics
- Carbon marketplace development and new energies trading
- Transaction management with shared ledgers
- Data, intelligence, algorithms, and application monetization
Finally, your organization can start creating incremental value for the business by developing transformative capabilities and new revenue streams:
The key to success is to first unlock the value that already exists (H1) and then to build upon it to enable new capabilities (H2), and finally to create incremental value for the business through transformative capabilities and new revenue streams (H3).
Transformation Journey Framework
The transformation journey is a progression from tactical, digital business model improvements to strategic, aspirational outcomes. The journey is mapped in three main phases:
- H1 (Experimental):
- Automate manual front-office tasks
- Automate manual mid- & back-office tasks
- Decouple primary systems and reduce shadow systems
- Migrate storage and compute to the cloud
- Federate and contextualize data in the cloud
- Real-time insights based on streaming market and peer data
- H2 (Strategic):
- AI + Gen AI-enabled forecasting, market simulation, scenario analysis, and carbon tax planning
- AI + Gen AI-enabled trader decision support and action recommendations
- Automate trend and trade analysis, contract reviews, and T&Cs evaluation
- Automate and optimize activities such as scheduling, contract generation, and reconciliation reporting
- Real-time visibility on key metrics (e.g., trading and risk position and P&L)
- H3 (Aspirational):
- End-to-end carbon auditability, full-cycle cost analytics, and carbon marketplace development
- New revenue streams by monetizing intelligence, algorithms, apps, data, etc.
- New energies trading
- Mobile integrated trading view with trader co-pilot
- Agile proprietary algorithms and applications
- Automate transaction management with shared ledgers
Target business outcomes progress from improving efficiency and increasing agility, to enhancing collaboration and driving innovation, enabling advanced trading and risk practices, gaining full-cycle visibility including sustainability impacts, and growing revenue through new business models.
Prioritizing where to start and how far to take your journey should be based on your organization’s unique market position, ambitions, and transformation vision.
Enabling the Future with Publicis Sapient and Microsoft
Leading Power & Utilities companies around the world are partnering with Publicis Sapient and Microsoft to drive strategic digital transformation initiatives across their business.
Case Study: How a Top Power & Utilities Company Implemented Physical and Financial Trading and Risk Management Capabilities for Renewable Assets of North American Operations
Imperative for Change
The organization is a global multinational energy company that generates and trades electricity within North America, Europe, and Asia-Pacific. It is one of the world’s largest offshore wind power generation companies and aims to be climate-neutral by 2040, supported by a €55 billion investment into renewables and creating more than 60 gigawatts (GW) of green capacity over the same period of time.
The organization’s Supply & Trading business unit was tasked with maximizing wholesale margins while effectively managing exposure in increasingly volatile energy markets. It saw asset optimization as key to driving value. The organization embarked on a journey to establish a common platform for its global Supply & Trading group so that it could:
- Integrate the company’s various commercial capabilities it gained from acquisitions
- Standardize systems and processes
- Limit customizations to simplify the landscape
Transformative Solution
Publicis Sapient and Microsoft’s objective was to standardize the company’s operating model and leverage synergies across the portfolio for commercial optimization as much as possible. We aimed to:
- Provide our integrated end-to-end Trade to Cash business solution to maximize value, minimize risk, and be fit for the future
- Adopt standard business processes to enable synergies across the portfolio
- Stand up a standard and stable ETRM solution that meets both global and country-specific needs
We worked closely with the business to deepen capabilities to inform the target state architecture design on the ETRM platform. We also developed a phased integration roadmap—comprised of eight separate releases—which prioritized long-term trading and quickly enabling critical risk management activities and controls.
Business Impact
- Provided a streamlined and standardized business process framework for the North American front, middle, and back offices
- Developed a centralized certificate capability spanning North America and beyond, fostering operational efficiency and standardization
- Embraced a system-centric approach leveraging standard solutions (ENDUR platform) and replacing Excel-based solutions
- Established bid-to-ask models for trading congestion, day-ahead, and battery optimization, resulting in a significant increase in trading P&L
- Defined an implementation in progress for a global risk and revenue modeling platform
- Launched fully automated settlement and invoicing processes
Case Study: How a Power & Gas Company Implemented a Wholesale and Retail ETRM Platform
Imperative for Change
A fully integrated North American Power & Gas business, the organization is active in both trading and marketing to retail and commercial/industrial customers. It provides a mix of power from wind- and gas-generation fleets and upstream gas production. Regulated in the United States and Canada, the business spans five geographies and two currencies.
The organization was undergoing a period of growth supported by a number of acquisitions. As a result, it needed to:
- Improve operational efficiencies
- Adopt an agile platform to support the organization’s growth vision
- Upgrade aging systems and valuation and reporting silos to enable consistent reporting of complex positions
Transformative Solution
Publicis Sapient designed and implemented the ETRM platform to support the integrated wholesale/retail power and gas business. This design helped:
- Integrate exchanges, pricing systems, ISOs, and enterprise resource planning systems
- Increase automation across the transaction lifecycle, replacing manual spreadsheet reporting
- Enhance data migration, involving mapping data elements across the source and targeting systems with tools to validate data quality
- Integrate the wholesale and retail power business
- Consolidate Power & Gas trading platforms for better visibility of the integrated business
Since the initial go-live date, we have continued to support the organization on an ongoing basis by providing upgrades and end-of-day services.
Business Impact
- Consolidated ETRM systems to support wholesale and commercial/industrial business
- Managed renewable identification numbers, power purchase agreements, and derivatives in a consolidated view of exposure and risk
- Improved operational efficiency with an agile ETRM platform
- Enhanced forecasting accuracy and reduction in margin leakage
- Improved the customer experience and provided enhanced customer analytics
- Enabled better decision-making through increased visibility into business driver performance
- Leveraged audit tracking functionality, internal data governance, and clear segregation of duties for better operational controls
Contact Us
To learn more about how Publicis Sapient and Microsoft can help your organization modernize Supply, Trading, and Risk, please contact us at energyandcommodities@publicissapient.com.
About Publicis Sapient
Publicis Sapient is a digital business transformation partner helping established organizations get to their future, digitally-enabled state, both in the way they work and the way they serve their customers. We help unlock value through a start-up mindset and modern methods, fusing strategy, consulting and customer experience with agile engineering and problem-solving creativity. As digital pioneers with 20,000 people and 53 offices around the globe, our experience spanning technology, data sciences, consulting and customer obsession—combined with our culture of curiosity and relentlessness—enables us to accelerate our clients’ businesses through designing the products and services their customers truly value.
For more information, visit https://www.publicissapient.com
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