SOURCE: Industrial Info Resources
SUGAR LAND, TX--(Marketwire - Aug 15, 2012) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Versify Solutions announces the launch of V-Trader® SmartStat®, leveraging IIR Energy's PowerCast Live to offer the most robust predictive analytics product in the industry.
It's been a historically long and hot summer across the U.S., and there's no relief in sight. Extreme heat and humidity puts an added strain on power plants, leading to an increase in unplanned outages. Natural gas prices briefly fell under $2 per million British thermal units (MMBtu) before rising to more than $3. Thousands of megawatts of coal-fired generators are closing in response to tougher regulations from the U.S. Environmental Protection Agency (EPA). Increased volatility in the Power market magnifies the potential profits -- or losses -- facing energy traders.
Versify Solutions (Glen Mills, Pennsylvania) has a solution to help its customers and other leading electric generation and trading companies increase profits despite the challenging conditions roiling the Power Industry. Energy traders using Versify's V-TRADER SmartStat software have been able to optimize its generating and trading strategies, creating significant opportunities for profitable trades during a time of high volatility in the market.
Now, through an alliance with Industrial Info Resources Energy (Sugar Land, Texas), traders are beneficiaries of a robust data analytics and modeling system that directly leverages information on generator outages, provided through IIR Energy's PowerCast Live service.
"Energy traders have been asking for an easy-to-use, transparent, predictive tool that helps them forecast prices and craft better trading strategies, with higher levels of confidence," said David Ippolito, Vice President of Product Development at Versify. "That tool is V-TRADER SmartStat, enhanced with outage intelligence from IIR Energy."
"In the energy trading business, success comes from having more data, timely data, better-quality data, an ability to easily manage and mine these high volumes of data, and the expertise and market knowledge to create intelligence from that data," Ippolito continued. "V-TRADER SmartStat provides a unique offering that includes price forecasts, bid/offer strategies around the forecasts, and transparent P&L performance of the strategies over the last year that gives traders confidence in the models to uncover millions of dollars of opportunity."
Versify's existing V-TRADER software streamlines and integrates a broad range of national power market data and analyses. By providing traders with a centralized bank of time-sensitive market information, V-TRADER identifies potential trading opportunities. By adding natural gas prices and generator outage information, V-TRADER SmartStat provides traders with predictive capabilities. Right now, V-TRADER SmartStat is focused on the Pennsylvania-New Jersey-Maryland (PJM) market, but soon it will be expanded to operate in other power markets.
"Traders in the PJM market have seen the price of a megawatt-hour of power fluctuate from the high-$20s to over $600," noted Paul Copello, president of IIR Energy. "That kind of volatility can make, or break, a trader's book. V-TRADER SmartStat has identified millions of dollars of new, day-ahead trading opportunities leading to extra profit. We're really delighted that the SmartStat application includes outage information and other intelligence from our PowerCast Live service. Customers can leverage that added market intelligence to improve trading performance."
This alliance unveiled today allows clients of both firms to access a more robust dataset in crafting their trading strategies and executing specific trades in the power market.
"We have always believed that more insight into the availability of specific generators in specific markets allows our clients to make the best-informed trades," Copello continued. "More data and better-quality data will increase transparency in power markets. The unique outage reporting in PowerCast Live will allow traders to operate more profitably and with lower risks."
About Versify Solutions
Versify Solutions develops leading software and services for energy traders and asset owners who demand a constant flow of data to efficiently navigate an ever increasingly dynamic sector. Versify provides superior data management, analysis and reporting solutions, among a wide range of software applications, to increase the transparency and efficiency of power markets. Versify's web-based applications offer better information, empowering them to perform at the highest levels. Utilized by some of the largest energy companies and trading desks in the U.S., Versify offers a unique portfolio of analytical solutions and services, providing key insights into generation performance and trading market opportunities.
About Industrial Info Resources Energy
A unit of Industrial Info Resources (IIR), IIR Energy is the leading provider of supply-side market intelligence for the energy market, including Electric Power Generation; Oil & Gas Storage, Transmission and Production; Alternative Fuels, such as biodiesel, ethanol, and coal gasification; and the Petroleum Refining industries. IIR Energy provides time-sensitive, critical market information that enables asset owners, developers, regulators, and financial & physical participants to enhance their trading strategies and minimize market risk.
Industrial Info Resources, headquartered in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence, specializing in the industrial process, heavy manufacturing and energy markets.
About Industrial Info Resources
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.