Japanese utility Tohoku Electric Power Company has selected Openlink to optimise its energy trading and risk management via the cloud.
Following the Japanese government liberalising its energy market, Tohoku established a new subsidiary to take advantage of market opportunities.
The deployed power trading and risk management solution is expected to help the subsidiary excel in its operations.
Project management services were provided by ABeam Consulting.
Kaoru Hijikata, executive officer at Tohoku, said his firm… “is prepared to lead the Japanese energy market during a time of great change as we rapidly expand our portfolio to better serve customers”.
The platform is anticipated to help the utility with a total generation capacity of 18,210MW, to achieve greater business agility as it grows, to quickly add new price models, users, and trading desks.
The technology will enhance Tohoku’s risk management and operational controls through access to viewing all risks, positions and scenarios in real-time.
Rich Grossi, CEO of Openlink, added: “Tohoku serves as a model for the modern utility company in Japan—bringing new offerings to customers with efficiency and scale…”