Clients

HOFOR is the energy and water utility for Copenhagen.

ESP Consulting worked with HOFOR on topics related to renewables support, and energy trading and risk management.

Further information on these projects is available below.

Wind Project Decision Support and Portfolio Management

Over a 7 month period, ESP Consulting supported HOFOR’s Wind and Solar department on optimizing decision processes and related tools.

Portfolio Prioritisation Process

The increasing size of both the onshore and offshore wind development portfolio required further structure to core processes and tools including a methodology for prioritisation of projects. This included the following activities and deliverables:

  • Defining and implementing a methodology for portfolio prioritisation
  • Facilitating portfolio prioritisation workshops
  • Setting department targets

Development of tools

To assist project decisions and assessments a number of tools were developed and implemented including:

  • A multi-featured wind park valuation model;
  • A methodology for assessment of project feasibility;
  • A resource planning model; and
  • Project templates.

We also supported the client in facilitating training sessions, as well as providing assistance on various management presentations.

Implementation of ETRM setup for Wind Portfolio

Over a 7 months period, ESP Consulting supported HOFOR’s wind department in the development and implementation of new business processes, systems and governance structure for handling of the power and certificate portfolio exposure.

Risk Policy and Governance Structure

As the construction phase of the company’s first wind parks was about to be finalized, a structured approach to risk management and the introduction of a new governance model needed to be developed and implemented. This included the following key areas of activities and deliverables:

  • Leading internal processes for defining the company’s risk appetite;
  • Development of risk framework and risk policy for the wind portfolio (decided by the Board);
  • Implementation of governance structure with clearly defined responsibilities and segregation of duties including organizational structure for Front, Middle and Back Office; and
  • Compliance monitoring.

Trading and Portfolio Management

ESP assisted the wind department in developing and implementation of a complete setup for trading wind exposures in the power and certificate markets. Key areas of attention included:

  • Methodology for calculation of long term exposures for the wind portfolio;
  • Development and implementation of a deal capture system for power and certificates;
  • Key processes for trading, portfolio management, middle office and back office;
  • Set up of external counter parties for trading wind exposures; and
  • Development of the necessary IT infrastructure for handling physical and financial invoices.
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