A discussion that came up during a visit to OpenLink’s Vienna office recently was what the definition of optimization was. OpenLink has historically sold its IRM optimization software but is optimization actually a defined and understood software category? I think that we concluded that probably it wasn’t a very well understood or defined term and could use some clarification. What OpenLink’s IRM solution actually does is provide a number of integrated components under the heading optimization that includes things like Long/Mid/Short term supply-demand planning including transport and storages for multi-commodity portfolios, Gas portfolio optimization including pipe and bulk (LNG) transport, maintenance scheduling, unit commitment and economic dispatch, re-commit and re-dispatch for intra-day. To do all of this, they utilize both deterministic and stochastic analysis. The solution includes workflow, time series management, auditing and an integrated ETRM solution as well. However, using an open architecture approach, the IRM optimization suite can also be used with other OpenLink systems as well as with third-party ETRM solutions. In terms of multi-commodity portfolio coverage, the IRM team emphasized that they can handle a lot of complexity such as heat, steam, power, ancillary services of various types, LNG liquefaction, gasification and much more. For hydro … continue reading
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