At the same time, these organizations are under constant pressure to comply with strict regulatory controls and business requirements, requiring the regular auditing and reporting on the state of mission-critical assets.
Ventyx understands that vertically integrated utilities face immense challenges around maintaining such a vast array of large and geographically dispersed systems to ensure equipment readiness and safety. Ventyx also recognizes the increasing need to innovate and improve customer service with systems and technologies that can improve productivity and reduce costs.
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Vertically Integrated Utilities Challenges
Ventyx can help vertically integrated utilities address the following challenges:
- Managing aging and inflexible legacy systems - Organizations must proactively maintain an extensive number of mission critical assets to maximize their productivity and reduce lifecycle costs.
- Disparate operating systems - Utilities undergoing mergers or operating multiple legacy systems do not have full visibility of their assets to be able to quickly and efficiently mitigate various exposure issues.
- Tightening regulatory realities - Maintaining regulatory, service reliability and safety compliance is a constant issue for vertically integrated utilities that are heavily regulated.
- Capital investment planning - To make ongoing investments companies need convincing data-driven analysis to support investment, resource and expansion plans, as well as comprehensive capital project management once funds are secured.
- Forecasting retail load - Accurately forecasting short-term load is a very complex problem that requires distribution companies to arrive at accurate forecasts while accounting for several highly volatile factors.
- Planning for the future - Power markets look very different today than most companies thought 10 years ago. How will the industry evolve going forward? What types of generation will be needed to meet demand? And when?