PJM Interconnection (Norristown, Pennsylvania, U.S.) has awarded AREVA T&D (Bethesda, Maryland, U.S.) a contract to implement its new Market Settlements system using AREVA T&D software.

Settlements is a critical function of energy markets that maps physical systems operations into financial operations. AREVA T&D's e-terrasettlements designed specifically for deregulated electricity markets to perform wholesale market settlements also enables market participants to perform shadow settlements by automatically comparing market operator-calculated charges with settlement values to validate market invoices and statements.

AREVA T&D's e-terrasettlements product reduces settlement cycle time while dealing with increased complexity and volume of transactions. This is achieved through an open, service-oriented architecture that delivers higher performance through bulk processing of data and multi-threaded computations. This architecture also provides flexibility for integration with other systems and offers an increased degree of configurability and business process automation.