Montel and ex-MK Online trio team up to establish power markets analysis firm.
Former MK Online analysts and developers Hugo Birkelund, Mikkel Sveen and Jon Drange have established analysis firm Energy Quantified with Montel as majority shareholder. The company, which started up in September, will “combine recent advances in machine learning algorithms with proven fundamental models”, it said. 

“We aim to exploit the digital platform to its extreme, meaning near real-time updates on all data instances and seek to remove human intervention from the production. This means less focus on writing analysis and more on the presentation of the data,” added Hugo Birkelund.

The power markets analysis would gradually be rolled out throughout Europe and initially encompass the near end of the curve, from the “next few hours to the next two weeks ahead”, Birkelund said.

For Montel, this is “a strategic investment made to ensure we can continue to offer relevant services amid the fundamental changes in market structure and liquidity throughout Europe”, said Montel CEO Tom Nyblin.

“The investment in Energy Quantified also supplements the research we have done so far into artificial intelligence and machine learning, applied to short-term price forecasting,” he added.

Birkelund and Sveen were previously involved in developing the analysis divisions at Natsource-Tullett, Point Carbon and, most recently, MK Online. Drange worked as developer at MK Online from 2010-16.

In April, Montel bought a 55% stake in German consultancy and service provider price[it] GmbH, which offers a range of price forward curves and tools for continuous optimisation of flexible power plants.

Reporting by:
Montel News
09:55, Thursday, 7 September 2017

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