Ventyx cloud-based risk management solution to help utilities

Ventyx, an ABB company, Wipro Ltd. and Microsoft are introducing a 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) to make financial decisions. Such complex simulations consume vast computing resources, and companies typically need to wait many hours for the results of critical analyses.

With this new solution, Ventyx will move its Planning & Risk solution onto the Windows Azure cloud platform, allowing generation companies 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.

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.

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