In April 2016, the Japanese retail power market was fully liberalised, dramatically increasing activity, opportunity, and the need for transparency in the Japanese wholesale power market.
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Because of their established global reputations and the expected growth in multiple market areas, both Genscape and Mitsubishi Research Institute have been instrumental in facilitating market activity in Japan since the deregulation.
Mitsubishi Research Institute has participated in market reform through its wholesale power market index publication, available on its online platform MPX (MRI Power Price Index).
The product currently serves many clients including the former Japanese vertically integrated utilities, new power, supplier, and producer players, and power plant developers.
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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 Power RT platform sales in Japan and will couple Power RT data with the MPX platform, providing a new service for short-term power trading.