The adoption of the market design rules by the European Parliament marks the finalisation of negotiations on the Clean Energy for All Europeans package.
New rules making the EU’s electricity market fit for the future and putting the consumer at the centre of the energy transition have been signed off by the European Parliament today – an important step in enabling the European Union and its Member States to embrace the clean energy transition, follow up on the already adopted 2030 climate legislation and meet the Paris Agreement commitments. With the completion of these last four legislative acts, the negotiations on the Clean Energy for All Europeans package are concluded and the EU is on the right path to decarbonise its economy in the second half of the century while maintaining its global competitiveness and creating growth and jobs.
Commissioner for Climate Action and Energy Miguel Arias Cañete said: “I thank the European Parliament for its strong support for the clean and fair energy transition, taking the EU a step closer towards delivering the Energy Union with citizens at its core, one of the key priorities President Juncker set out for this Commission. Today’s approval of the new electricity market design will make energy markets more flexible and facilitate the integration of a greater share of renewable energy. An integrated EU energy market is the most cost-effective way to ensure secure and affordable supplies to all EU citizens. I am particularly pleased that we have agreed on a common framework for capacity mechanisms that will ensure such mechanisms will be in line with our climate objectives in the future while taking into account legitimate security of supply concerns.”
Today the European Parliament completed the parliamentary approval of the new Electricity market Regulation and Electricity market Directive as well as of the Regulations on Risk Preparedness and on the Agency for the Cooperation of Energy Regulators (ACER). The Governance of the Energy Union Regulation the revised Energy Efficiency Directive, the revised Renewable Energy Directive and the Energy Performance of Buildings Directive have already entered into force last year.
The new electricity market design rules make the energy market fit for the future and place the consumer at the centre of the clean energy transition. The new rules are designed to empower energy consumers to play an active role in driving the energy transition and to fully benefit from a less centralised, and more digitalised and sustainable energy system. The new rules enable the active participation of consumers whilst putting in place a strong framework for consumer protection. By allowing electricity to move freely to where it is most needed, society will increasingly benefit from cross-border trade and competition to keep energy costs and prices in check. Capacity subsidies to power plants emitting more than 550gr CO2/kWh will be phased out under the new rules. The new market design also contributes to the EU’s goal of being the world leader in energy production from renewable energy sources by allowing more flexibility to accommodate an increasing share of renewable energy in the grid. The shift to renewables and increased electrification is crucial to achieve carbon neutrality by 2050.
Following this parliamentary approval, the Council of Ministers of the EU will have to formally approve the texts of the Directive and three Regulations, after which the new laws will be published in the Official Journal of the Union. The Regulations will enter into force immediately (with a date of application of 1 January 2020 for the Electricity Regulation) and the Directive will have to be transposed into national law within 18 months.
On 30 November 2016, the Commission proposed new rules (a revised Electricity market regulation and a revised Electricity market directive as well as a new Regulation on Risk Preparedness and a revised Regulation on the Agency for the Cooperation of Energy Regulators (ACER)) on the EU energy market design in order to help energy markets include more renewables, empower consumers, and better manage energy flows across the EU.
Markets need to be improved to meet the needs of renewable energies and attract investment in the resources, like energy storage, that can compensate for variable energy production. The market must also provide the right incentives for consumers to become more active and to contribute to keeping the electricity system stable. Today’s electricity market has fundamentally changed since 2009, when the most recent legislation was introduced. The share of electricity produced by renewables is expected to grow from 25% to 55% in 2030.
The proposed measures also contain measures that ensure that state interventions designed to make sure there is sufficient energy available are only used when really needed, and in a way that does not distort the internal electricity market.
Through the revised Directive, these new rules will put consumers at the heart of the transition – giving them more choice and greater protection. Consumers will be able to become active players in the market thanks to access to smart metres, price comparison tools, dynamic price contracts and citizens’ energy communities. At the same time, energy poor and vulnerable consumers will enjoy better protection.
The revised Electricity Regulation opens up electricity markets to renewables, energy storage and demand response, it brings stricter and harmonised rules for capacity mechanisms, reconciling thus the EU objectives of security of supply and emission reduction. Enhanced regional coordination will improve market functioning and thereby competitiveness while making the system more stable.
The Risk-preparedness Regulation increases the resilience of the EU electricity system and the Regulation on the Agency for the Cooperation of Energy Regulators (ACER) enhances ACER’s role of coordinating regulatory authorities of Member States.
Bleckwen Raises $10m and Appoints David Christie as CEO
Bleckwen, a provider of real-time analytics software for fraud detection & prevention in payments, has come out of stealth to announce a $10 million first funding round. The funding will be used to support Bleckwen’s international expansion and the continued development of the company’s exciting software capabilities in AI-based fraud detection. The company’s expertise is strategically focused on the wider anti-money laundering (AML) and counter-terrorism financing (CTF) context. Bleckwen recently spun-off from Ercom, the French cybersecurity firm. The round was led by Ring Capital, a Paris-based venture capital firm and existing investors, including TempoCap, Bpifrance and Ineo, alongside senior management.
Built with banks, for banks, Bleckwen’s real-time, dynamic behavioural analytics & explainable AI-engine is well placed to detect the surging fraud threats in payments, such as authorised push payment fraud or the “human hack” which is growing by circa 60% year-on-year, driven by the surge in real-time payment networks globally. The platform also protects banks from the emergent risks of open banking under PSD2, where banks will no longer have full control of the end-to-end user experience and security perimeter, presenting a completely new threat dimension.
Over the last year, the company has also strengthened its management team with the hire of David Christie, a 20-year veteran in financial services, previously the COO of Euronet’s money transfer business, which included the brands Ria, HiFX and XE. David is also Chairman of VitessePSP and investor in Shieldpay, bringing with him a wealth of experience implementing and operating both fraud and AML systems in payment businesses.
David is also joined by Matt Knowles, who was recently appointed Chairman of Bleckwen. Matt was previously CEO of HiFX, and together he and David successfully scaled HiFX into a world leading international payments company prior to its successful sale to Euronet.
David Christie, Bleckwen’s CEO, commented: “Nearly $4 trillion is stolen and laundered through banks annually – circa 3% of global GDP. Existing technologies are just not cutting it in the fight against this scourge of society. Something else needs to be done and at Bleckwen, we have made tremendous progress over the last two years as part of the Ercom Group, developing solutions to bring the fight to these criminals.”
“This fundraising is confirmation of our ‘scale-up readiness’ and the support from Ring Capital and our existing investors is testament to our expertise in productising class-leading AI-based analytics in the fight against financial crime for banks. Using Bleckwen’s software, we are seeing false positive ratios drop by over 95%, the time taken to resolve alerts fall by over 50%, and a reduction in fraud loss ratios by over 60% – as compared with incumbent legacy-based rules systems.”
“Working very closely with our customers, which include a tier-1 global bank, we have developed a market-leading, payment-type agnostic, real-time capability to meet their fraud detection and prevention requirements at industrial scale. Bleckwen’s software can also dynamically adapt to ever-changing customer behaviours and profiles. We have also significantly strengthened our senior management team and operational infrastructure and will be opening offices in the UK and the US in 2019.”
Matt Knowles, TempoCap Partner and Bleckwen Chairman, commented: “Having co-founded and scaled an international payments company that processed $20 billion annually, I have extensive real-world experience of the challenges faced by both fintechs and banks in of the domain of fraud detection and AML. I have been deeply impressed by Bleckwen’s advanced use of machine learning technology to radically increase fraud detection over current solutions, but, as importantly, substantially reduce the volume of false positives (which build friction and cost into the customer journey). We see significant potential to commercialise this technology across banks, fintechs & other multi-national enterprises to help combat fraud and AML risk across all payment types.”
Nicolas Celier, co-founder of Ring capital, commented: “Bleckwen has appeared to us as the unique combination of state-of-the-art AI technology, built by a leading French data team, together with top international management with a solid track record of scaling up Fintech companies worldwide. Ring knew Bleckwen before the spin-off and has contributed to design this deal in order to help Bleckwen grow and scale.”
Thierry Sommelet, Managing Director at Bpifrance Growth Capital – Head of Technology, Media, Telecom, said: “Bleckwen is uniquely positioned to help the fast-moving payments ecosystem improve clients’ protection and transaction efficiency, thanks to a leading-edge AI technology and experienced management. We are very happy to see David Christie and Matt Knowles join this adventure, as well as Ring Capital. We are confident that they will collectively thrive in driving the company on its new phase of growth.”
Bleckwen was recently awarded Fintech of the year at the EBAday 2019, an event run by the Euro Banking Association – an expert-led forum for the European payments industry with nearly200 member banks. Selected out of a category of 16 other finalists, the company received the prestigious award based on the innovative and dynamic nature of its market-leading AI-powered platform.
KLoBot – An Enterprise Chatbot Builder Platform launches Twilio Integration to Enhance Customer Experience
KLoBot – a DIY Chatbot platform is pleased to set in motion the much-awaited integration to Twilio. With technology and social media enabling an always-on approach to business, customer expectations have been higher. Voice and Text enabled chatbots empower customer-facing organizations across numerous industries to communicate and engage with every end user seamlessly.
To learn more about KLoBot, visit us online – www.klobot.ai
“Businesses must support ease of chatbot interactions for their customers using traditional communication such as a simple phone call or text messaging,” said Ragav Jagannathan, Founder of KLoBot, Inc. “With KLoBot based chatbots readily available on Twilio platform, businesses can offer their customers 24/7 first line of support using a simple voice call or SMS to a phone number and automatically have chatbot respond to their query.”
Customers can get access to information ‘on-demand’ via a simple text message or voice call in real time. These cutting edge, no-code chatbots streamline communication and enhance customer engagement. If the requests get complicated, they are smoothly transitioned from bots to human via KLoBot’s ‘Live Agent Handoff’ skill. Watch Video
KLoBot and Twilio, together, will allow companies to manage customer relationship via automating routine tasks and processes. Early adopters of KLoBot can drastically save operation costs, improve sales, offer personalized customer service and in turn, gain a sustainable competitive advantage by discovering the benefits of this KLoBot and Twilio compelling integration.
SOURCE KLoBot, Inc.
Synopsys and GLOBALFOUNDRIES Collaborate to Develop Broad Portfolio of DesignWare IP for 12LP FinFET Process
- DesignWare IP portfolio for GLOBALFOUNDRIES 12LP FinFET process includes Multi-Protocol 25G, USB 3.0 and 2.0, PCI Express 2.0, DDR4, LPDDR4/4X, MIPI D-PHY, SD-eMMC, and Data Converters
- Synopsys’ DesignWare IP are optimized for high performance and low latency in compute-intensive applications, such as artificial intelligence, high-end smartphones, and networking infrastructure
- Long-standing collaboration between the two companies has resulted in the successful development of DesignWare IP from 180-nm to 12-nm
Synopsys, Inc. (Nasdaq: SNPS) today announced its collaboration with GLOBALFOUNDRIES (GF) to develop a broad portfolio of DesignWare® IP, including Multi-Protocol 25G, USB 3.0 and 2.0, PCI Express® 2.0, DDR4, LPDDR4/4X, MIPI D-PHY, SD-eMMC, and Data Converters, for GF’s 12-nanometer (nm) Leading-Performance (12LP) FinFET process technology. Synopsys’ DesignWare IP on the GF 12LP process enables designers to implement the latest interface and analog IP solutions in their artificial intelligence (AI), cloud computing, mobile, and consumer system-on-chips (SoCs) on GF’s 12LP technology, which delivers a 10 percent improvement in logic density and more than a 15 percent improvement in performance compared to previous FinFET generations. This collaboration is another extension to the long-standing relationship between the two companies, which has delivered DesignWare IP for GF’s processes from 180-nm to 12-nm.
“In response to growing demand for differentiated, feature-rich FinFET offerings, we are collaborating with Synopsys to provide quality IP in GF’s processes, enabling designers to deliver differentiated products to a broad set of market segments,” said Mark Ireland, vice president of Ecosystem Partnerships at GF. “The combination of our 12LP process with 3D FinFET transistor technology and Synopsys’ high-performance DesignWare IP allows our mutual customers to accelerate their time to volume production.”
“As the leading provider of interface IP, Synopsys continues to collaborate with key foundries, such as GF, to deliver DesignWare IP solutions for the latest FinFET process technologies,” said John Koeter, vice president of marketing for IP at Synopsys. “With Synopsys’ DesignWare IP portfolio in GF’s 12LP process, designers can efficiently integrate the necessary functionality into their complex SoCs while meeting the bandwidth and power requirements of their mobile and high-end computing applications.”
SOURCE Synopsys, Inc.
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