VECO goes live with QuantRisk 2014

Miami, Florida, April 28, 2014

QuantRisk Corporation is a Florida-based global provider of Enterprise Trading and Risk Management software solutions for energy and financial markets.

Visayan Electric Company (VECO), the Philippines’ second-largest utility, serving over 370,000 customers across an estimated population of 1.73 million, is part of Aboitiz Power Corporation, a publicly-listed major power generation, distribution, retail, and power services provider in the country.

VECO’s Chief Operating Officer, Sebastian Lacson said,

VECO was looking for a platform with which we could optimize our nomination patterns, even more, automate settlements, accommodate the changing market that is a result of deregulation of the electricity market, all with real-time information. QuantRisk has been able to deliver on all our expectations. The benefits to VECO and our customers are immense.

QuantRisk’s president, Dr. Al Lavassani said,

We are delighted to have excelled at meeting VECOs challenging requirements for a real-time enterprise Energy Trading, Analytics, Optimization, and Risk Management Platform. These were accomplished by QuantRisk 2014, our flagship high-performance, web-based enterprise ETRM system.

QuantRisk 2014 integrates and automates all activities related to:

  •  Data gathering, management, modeling, analytics, and forecasting.
  •  Trade management, settlement, billing, scheduling, nomination, and online Customer Relationship Management (CRM) for all transaction types: fuel, energy, supply, demand, wholesale, and retail.
  •  Risk management, portfolio, and what-if-scenario analysis.
  •  Data gathering, management, modeling, analytics, and forecasting.
  •  Flexible web-based reporting and data panel displays.

QuantRisk 2014 unifies seamlessly front, middle, and back office functions across the enterprise.

The platform has an end-to-end run time of minutes, performing the following operations in real-time:

  •  Captures data (price and load) live from market operators, SCADA, and Meter systems.
  •  Generates load and price forecasts and optimizes generation assets and bilateral supply dispatches.
  •  Optimization is followed by a re-evaluation of the company’s entire cash flow in real-time.

Very flexible reporting modules allow all data, such as optimal load and complete P&L per nodes, bilateral supplies and demands, etc., to be displayed live on data panels in the trading room. The ensuing real-time optimal decision-making results in significantly higher revenues and lower risk.


Our Clients Say

After thorough investigations, we commissioned a “Proof of Concept” implementation of QR System for a period of 2 months. The goal was to implement core functionality out-of-the-box. The POC was a resounding success in all its goals. The system was configured to handle wholesale trading, billing, invoicing and reporting, as well as our bilateral OTC power procurements and sample retail contracts. QuantRisk Platform delivered outstanding performance in all areas of functionality. The advanced analytics offered very impressive precision in forecasting load, and the dispatch optimization module was able to recommend very valuable trading strategies that we found to be possible to implement over time.
COO of a Utility Group

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