IRM, An OpenLink Company, Signs Largest Russian Power Supplier, INTER RAO UES OJSC

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IRM, an OpenLink Company will support INTER RAO UES in its current power business and strengthen their overall position in Russia and abroad.

IRM, a leading solutions provider focused on structured procurement management, optimization, and investment analysis and planning, today announced that INTER RAO UES will implement their iOPT system for optimization, physical asset and portfolio management. IRM will support INTER RAO UES in its current power business and strengthen their overall position in Russia and abroad. IRM has opened a Moscow office to further support the Russian market.

INTER RAO UES will benefit from IRM’s acclaimed product support center for Russian- speaking clientele, and acquire qualitative improvement to the planning and forecasting aspect of their trading activity.

“It was important for us to establish a partnership with a leading vendor who brings along required international business expertise in different territories, knows the specifics of the Russian market very well, has demonstrated multiple successful implementations, delivers a system which supports our native language and is in the position to act quickly regarding the changing requirements of the local market,” said Vyacheslav Artamonov, Deputy CEO of INTER RAO UES. IRM, together with its local partner, StinsComan, won the project against strong regional and international competition.

“INTER RAO UES wanted a solution which would help them take advantage of trading opportunities in the Russian power markets, and secure their predominant status in the Russian energy market. As a result of this project, 'INTER RAO UES' will benefit from a leading solution for commercial risks estimation, optimizing their export-import trade portfolio and its operation, have the ability to generate assets in electric power, and monitor their trading capacity on both the Russian and foreign markets business. These enhancements to their current trading activity provide a unique competitive advantage in the ever changing energy and commodity markets,” said Markus Seiser, CEO of IRM.

To learn more about IRM’S solutions for Energy & Commodities Logistics and Optimization please visit: http://www.irm.at/en/unternehmen.php.

About INTER RAO UES OJSC: http://www.interrao.ru

About IRM

IRM's system solutions are specifically tailored to the requirements of deregulated markets and support the operative business as well as strategic planning.

From structured procurement management (forecast, energy disposition, from simple registration and handling of an increasing number of procurement flows 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 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 120 employees and more than 50 references in numerous countries.

About OpenLink

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, Toronto, and Moscow, OpenLink has more than 900 employees worldwide.

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