Ascend Analytics is pleased to announce that Redding Electric Utility (REU) has selected Ascend’s PowerSimm energy risk management software to provide its resource planning analysis. Ascend’s ability to scale PowerSimm to the needs of our clients provides REU the advanced analytics utilized by larger organization, such as AEP and NRG, at a cost that fits the City’s budget.
Ascend Analytics’ PowerSimm software solutions will provide REU’s Resource Planning Group, run by REU Assistant Director Dan Beans, a complete platform for critical energy decision analysis, portfolio management, and long-term planning. REU will be equipped with the analytic and data infrastructure to support the decision analysis needed to prepare the City for a broad set of Planning uncertainties.
REU’s Planning Group requires a comprehensive analytical framework, PowerSimm gets the details right through accurately representing the physical and financial dynamics of the energy supply markets. PowerSimm’s output reporting will provide REU the tools to make critical decisions to decrease the uncertainty of the City’s cash flows, improve its energy position analysis, provide insights for detailed asset valuations, and most importantly – the necessary tools to provide reliable, safe, low cost power to the City of Redding.
We believe Barry Tippin, Assistant City Manager and REU Director, stated it best when presenting the decision to the Redding City Council:
“The increasingly complex markets and ever-changing utility industry have increased the need for comprehensive analytics and risk analysis to assist in making informed decisions on long-term resource planning. The proposed software will provide Redding Electric Utility (REU) Resources Division staff the ability to:
- Evaluate a range of alternative resource strategies and specific new opportunities
- Support REU’s hedging and risk management activities
- Provide input to the budget as well as regular reporting to management and operations
- Analyze proposed legislative and regulatory mandates that may affect existing and new resources
There is a select group of software/modeling companies that can provide the products and services to meet the utility industry’s needs in resource planning. REU’s Resources Division has actively pursued and evaluated these companies and their software packages. Through this process, Ascend Analytics distinguished itself with the capability to provide the needed software and support services required to meet REU’s needs.”
Gary Dorris, President and CEO of Ascend, reiterates Barry’s thoughts “Ascend is very pleased that our new “Software as a Service” offering can conveniently deliver to Redding the same quality analytics we provide to America’s top three electric utilities. Ascend’s PowerSimm software will provide the analytic intelligence and insights necessary to support complex critical decision analysis posed to today’s municipalities. We look forward to building a long lasting relationship with the City of Redding and providing solutions that will further enable Redding to continue to provide consistently low rates to their customer base.”
Ascend is excited about the REU implementation project ahead. Ascend looks forward to meeting, and exceeding, the current and future analytic needs of Redding Electric Utility. For more information on PowerSimm Planner, please contact Ascend Analytics’ Sales at firstname.lastname@example.org or (303) 415-1400.