July 5, 2019 - Today, the Japanese headquartered Mitsubishi Research Institute and U.S.-based Genscape, Inc signed a partnership agreement to provide real-time data services to the newly liberated Japanese wholesale power market.
In April 2016, the Japanese retail power market was fully liberalized, dramatically increasing activity, opportunity, and the need for transparency in the Japanese wholesale power market.
Because of their established global reputations and the expected growth in multiple market areas, both Genscape and MRI have been instrumental in facilitating market activity in Japan since the deregulation. MRI has actively participated in market reform through its wholesale power market index publication, available on its online platform MPX (). This product currently serves many clients including the former Japanese vertically integrated utilities, new power, supplier, and producer players, and power plant developers. As the Japanese market opened up, Genscape harnessed their proprietary monitoring technology, proven in North America and Europe, and offered the Power RT service, which provides real-time power generation data. Because power plant generation changes significantly impact wholesale power market prices, real-time data helps market participants understand impacts so they can execute short-term trades and build long-term strategies.
Through their new partnership, Genscape and MRI will collaborate on Power RT services in Japan. MRI will facilitate platform sales in Japan and will couple Power RT data with the MPX platform, providing a new service for short-term power trading.
Founded in 1999, Genscape is the leading global provider of real-time data and intelligence for commodity and energy markets, driven to improve market transparency and efficiency.
Today, Genscape operates the world’s largest private network of in-the-field monitors, and added satellite reconnaissance, artificial intelligence, and maritime freight tracking to its data acquisition capabilities. Genscape delivers its unique brand of unsurpassed market intelligence across the commodity and energy spectrum including power, oil, natural gas, petrochemical and NGL, agriculture, biofuels, and maritime freight.