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Ventyx Cloud Risk Analytics Solution To Help Energy Companies Improve Profitability And Mitigate Risks

Stocks in this article: WIT

ATLANTA, Sept. 16, 2013 /PRNewswire/ --  Ventyx, an ABB company, today announced in conjunction with Wipro Ltd. and Microsoft the introduction of a new cloud-based solution that will enable electric utilities and power generation companies to improve profitability by enhancing mitigation of market risks, while avoiding costly investments in IT infrastructure and ongoing maintenance.

For years, power generation companies and utilities have used Monte Carlo simulations to model revenues/profit and analyze hedging strategies related to their physical assets (e.g., power stations) in order to make key financial decisions. Such complex simulations consume vast computing resources, and companies typically need to wait many hours for the results of critical analyses. Accelerating the process to deliver simulation data within a few hours would enable energy market participants to better mitigate risk and seize trading opportunities. 

"We are moving risk analysis from overnight, to over lunch," said Tom O'Meara, General Manager for Ventyx Energy Portfolio Management. "In a secure, high-performance environment, our solution enables customers to analyze more variables, in more iterations, run more frequently, which ultimately delivers a better understanding of market position and related risks."

With this new solution, Ventyx will move its Planning & Risk solution onto the Windows Azure cloud platform, providing generation companies with a high-end computing environment to analyze their asset portfolio more frequently. Modeling asset portfolios in this way helps customers to improve fuel budgeting, resource planning, transaction evaluation and risk management.

"Managing generation portfolios has never been more complicated than it is today," said Dr. Gary M. Vasey, partner and managing director for commodity technology market advisory firm ComTech Advisory. "Yet, committing the computational resources required to optimize risk analytics is an expensive and time-consuming proposition. Off-loading these complex simulations to 'the cloud' provides numerous potential advantages – allowing companies to perform more frequent analyses without a requisite increase in IT infrastructure spending."

Wipro will deliver the Ventyx risk analytics application as a managed service on Windows Azure, allowing Ventyx customers to pay for the advanced infrastructure on a pay-per-use basis. By taking advantage of the cloud, customers will quickly realize returns through timely and accurate analysis and by lower overall IT costs. Additionally, information is encrypted for off-site processing, an environment as secure as on-site environments.

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