INTER RAO UES leverages OpenLink's SmartETRM product suite to initiate trading activities supported by the newly installed optimization solution for their portfolio of physical assets
Vienna, Austria – June 15, 2011 – 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:
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," 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."
To learn more about IRM's solutions for Logistics and Optimization in Energy and Commodities for the Russian market, please visit: www.openlink.com/ru
Inter RAO UES is a diversified energy holding headquartered in Moscow and managing assets in Russia, Georgia, Armenia, Kazakhstan, Tajikistan, Moldova and Finland. INTER RAO UES produces and sells electric energy and heat, trades energy in the international market, as well as engineers, designs and builds generating assets. The combined capacity of power plants managing by INTER RAO UES is about 18, 000 MWt.
INTER RAO UES strategy is focused on investment activity. It occupies the leading positions in Russian market of electric power import and is one of the biggest generating companies in Russia.
IRM's system solutions are specifically tailored to the requirements of emerging and deregulated markets and support the operative business as well as strategic planning.
From structured procurement management (forecast, energy disposition, energy purchases/sales including schedule and balancing group management) to energy trading with portfolio/risk management (including complex risk and optimization functionalities) in the multi-commodity environment as well as in market modeling, investment analysis and planning.
IRM is a leading software provider for system solutions in the energy sector (electricity, gas, district heating, certificates, oil and coal). The company, which was founded in 1998 in Vienna, has more than 130 employees and more than 50 references in numerous countries.
Stins Coman is a system integrator with 20 years of experience in the information technologies market, specializing in complex projects, including development, implementation and support of information systems.
One of the main activities of "Stins Coman" is generation of high-tech solutions for ensuring of end-to-end works automation for the players in electric energy and power market, financial markets and initial fuels markets (oil and gas).
"Stins Coman" offers the best solution and takes responsibility for all the processes implementation to achieve the objectives of the project, managing general contract of the project and using accumulated knowledge and experience. All implemented solutions and delivered equipment, carried out by "Stins Coman" are provided with professional technical and service support.
"Stins Coman" projects are unique and developed for various industries: public administration, metallurgy, energy, oil and gas, mechanical engineering, finance and etc.