STINS COMAN and IRM completed the implementation of a portfolio/risk- and physical asset optimization and energy trading system at INTER RAO UES
JSC "INTER RAO UES”, a leading Russian diversified energy company and “Stins Coman Corporation”, Russian system integrator together with its Austrian partner “IRM/ OpenLink”, announced the successful completion of implementation of optimization tasks solution system for the electric energy and power wholesale market (OREM), power plants operation optimization, contracts portfolio management and risk management. The implementation project - a contract between both companies originally signed in August 2010 - were carried out according to the established time schedule and completed in time.
The software solution for the underlying project implementation was developed by IRM / OpenLink - the Austrian daughter company of OpenLink International and a predominant solutions provider to the global energy and commodities industry - and has no analogues in Russia. Furthermore it is the first successful ETRM (Energy Trading and Risk Management) project of its kind in Russia. Stins Coman is an exclusive partner for the delivery of iOPT solution in the power sector in Russia. At present the company has several implementation projects for the system in OREM related companies. One of the main issues successfully solved by Stins Coman and IRM experts was the adaptation of this solution to OREM specifics (regulations), translation into the Russian language and effective customization for JSC "INTER RAO UES", for tasks needed when operating in OREM, and for support in the area of export and import of electric energy.
“INTER RAO UES” company was one of the first in Russia who drew attention to the solution offered by “Stins Coman”, and noticed an opportunity for quality improvement and automation of their business processes in:
"I am pleased to note that one of the largest energy companies of Russia – INTER RAO UES- decided to implement a state of the art technology and innovative product solution such as IOPT, which is in use at more than 60 energy companies overall in the world” - said Bogdan Shatunov, Head of Energy Department of Stins Coman. -. “Owing to it, our specialists have been able to customize the most powerful product to Russian specificities in such a short period of time (7 months). One of the main challenges solved successfully by Stins Coman and IRM experts was the implementation of OREM (Specifics of the Russian Power markets) in Cyrilic language and customization of JSC "INTER RAO UES" specific business requirements“.
“Owing to the use of standardized, totally integrated software – iOPT system - we succeeded in rather diverse but relative tasks solution implementation in the scope of unified system, - said Gennady Semenov, Deputy Head of Trading Division, Project Manager of “INTER RAO UES”, - this is, of course, will have a positive effect on decision making efficiency, when operating in energy markets. It is also important to mention that one of the main results in this project have been the implementation of the technological platform, that will allow to implement further development of the system for the software package total potential reveal, offering by “Stins Coman”, and in ultimately short periods make adaptation to rapidly changing conditions of the Russian market.”
„This was our first project in Russia, therefore it was really important to show on the one hand the flexibility and capability of our product covering Russian market requirements and on the other hand to show that based on OpenLink/IRM professional project management and energy experts together with a strong and reliable partner we could deliver projects successfully on time in Russia”, said Markus Seiser, Managing Director of IRM.
JSC “ INTER RAO UES” (http://www.interrao.ru/en/) 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.
“Stins Coman” Group of companies (http://en.stinscoman.com/)
“Sins 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, gas).
“Stins Coman” projects are unique and developed for various industries: public administration, metallurgy, energy, oil and gas, mechanical engineering, finance and etc.
IRM - An OpenLink Company
IRM is a leading software provider for system solutions in the energy sector. The company, which was founded in 1998 in Vienna, has over 140 employees and more than 60 references in numerous countries. Since 2007 IRM is an OpenLink Company.
Founded in 1992, OpenLink is a provider of cross-asset trading, risk management, related operations processing and portfolio management software solutions for the commodity, energy and financial services markets globally.
OpenLink's client base of more than 350+ customers worldwide includes 12 of the top 25 largest commodity and energy companies by market capitalization, eight of the largest financial institutions and 11 of the largest central banks, as well as major hedge funds, commodities companies and public utilities.
Headquartered on Long Island, New York and with offices in New York City, Houston, London, Berlin, Vienna, São Paulo, Sydney, Singapore, Moscow and Toronto, OpenLink has more than 950+ employees worldwide
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