New York, NY (PRWEB) March 05, 2012
OpenLink Financial, LLC (OpenLink), a leading provider of energy, commodities, trading, and risk management (CTRM/ETRM) solutions, released findings from a recent webinar which surveyed senior energy and commodities industry professionals focused on renewable energy sources. The survey revealed industry participants’ priorities and greatest challenges with renewable energy sources, such as wind, hydro, or solar in their physical assets portfolio.
Industry professionals revealed in the survey that their top interests centered on being able to effectively model renewable assets that have the propensity for high volatility (44%), while having an optimization model which incorporates complexities and constraints was second (26%). Also of note was their desire to forecast short to long term within unpredictable circumstances (21%) and the ability to meet reserve requirements across short and midterm horizons (9%).
Gary Hunt, President at Tech & Creative Labs, confirmed, “These findings are consistent with clients’ experience in the marketplace. Each type of renewable energy resource requires analysis to optimally manage their complexities to extract full value.”
Survey results supported this with 57% of respondents stating they had challenges forecasting with accuracy and planning for reserves.
More specifically, participants’ responses illustrate a clear need for real-time data (see below):
- Forecasting in the short and long term with accuracy: 30%
- Planning for the right level of reserves: 12%
- Ability to perform economic dispatch/unit commitments in near real-time: 19%
- Compliance with evolving regulatory requirements: 11%
- Optimizing across whole portfolio to make the best decisions: 28%
Dr. Markus Seiser, Managing Director of OpenLink’s Optimization Division, commented, “As the renewable energy market evolves and matures, market participants will need more advanced technology to leverage opportunities. This includes an enterprise portfolio view that can cover all asset classes and clearly illustrate the way these assets interact with each other (e.g., gas storage vs. flexible purchasing options). Our sophisticated clients drive our technology roadmap, and renewables are no exception.”
To download the podcast of this webinar Optimizing Renewable Assets in 2012 and Beyond, visit: View Podcast Now
Founded in 1992, OpenLink provides decision support software solutions for transaction lifecycle management. This encompasses financial and physical cross-asset trading, risk management, related operations processing and portfolio management for commodity, energy and financial services markets and industries globally.
OpenLink's client base of more than 540 clients 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, Dallas, Tulsa, London, Berlin, Vienna, São Paulo, Sydney, Singapore, Moscow and Toronto, and Dubai, OpenLink has more than 1,300 employees worldwide
To learn more about OpenLink's solutions for Optimization visit: http://www.OpenLink.com