OpenLink completes Russian energy trade installation

Source: OpenLink

IRM, a leading solutions provider focused on trading, structured procurement management, optimization, and investment analysis and planning, today announced the successful implementation of IRM's iOPT solution at their client INTER RAO UES.

The implementation was completed on time and within budget. INTER RAO UES has several other IRM implementation projects in progress.

INTER RAO UES will leverage the optimization solution to improve the quality and automation of their business processes, specifically for:

* Planning and forecasting to support trading decisions
* Optimization of generation equipment
* Automation of RSV and VSVGO bids preparation
* Optimization of export and import operations for power
* Portfolio market risk management

This is the first successful Energy Trading and Risk Management (ETRM) project of its kind for the Russian power market. For this new market, IRM initiated and delivered key product enhancements to support local requirements. This included adhering to the electric energy and power wholesale market's (OREM) specific regulations, translations of GUIs into the Russian language, and support for electric energy export/import operations. Historically, IRM has developed solutions and technology enabling local market participants the ability to take advantage of emerging trends and this project was no exception.

"With IRM's iOPT, we succeeded in having a customized solution while unifying our fragmented systems," said Gennady Semenov, Deputy Head of Trading Division, and Project Manager of INTER RAO UES. "This will have a positive effect on decision-making efficiency across our enterprise. One of the key results from this project has been the implementation of a technology platform that will allow us to adapt to the rapidly changing conditions of the Russian market in short periods of time."

"This was our first project in Russia, and it was pivotal to show the agility of our product suite - adapting to the Russian market requirements seamlessly executed through our professional project management and energy experts. This combined with our strong and reliable implementation partner set us up to exceed client expectations and timeline requirements," sements," said Markus Seiser, Managing Director, Central Europe, OpenLink.

"I am pleased to note that one of the largest energy companies in Russia decided to implement a state of the art technology and innovative product solution such as IRM's iOPT, which is in use at more than 60 energy companies in the world," said Bogdan Shatunov, Head of Energy Department of Stins Coman. "Our specialists have been able to customize this product to meet the specific challenges of the Russian market in just seven months, on time and within budget."

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