Uniper Expands Business Horizons with Enterprise-Level FICO Optimization
One of the leading international energy companies is developing new cloud capabilities and business opportunities with FICO® Xpress Optimization
BENSHEIM, Germany, April 28, 2020 /PRNewswire/ --
HIGHLIGHTS:
- Uniper, one of the leading international energy companies, has purchased an enterprise license for FICO® Xpress Optimization
- Uniper can now upscale its cloud infrastructure to run more complex models faster, deliver results in shorter periods, and enable new business opportunities across all its energy markets
- This strategic decision was based on the reliable performance and scalability demonstrated by FICO's solution over the past 20 years
Uniper, a leading international energy company, has purchased an enterprise license for FICO® Xpress Optimization to move its computing to the cloud, develop new business opportunities, and power its global decisioning processes. With Xpress's flexible licencing model, Uniper can now rapidly upscale its cloud infrastructure as needed, delivering faster results and creating new business opportunities.
More information: https://www.fico.com/xpress
"Uniper needs the smartest technology available to inform our energy production decisions, which is why Xpress models run at the core of a number of our decision processes," said Colin Silvester, Senior Modelling Expert at Uniper. "The first-class service we've received from the FICO team for the past 20 years only cemented our recent decision to upgrade our Xpress solution to enterprise-level. FICO has earned its reputation as a leader in optimization technology."
Uniper has used FICO® Xpress Optimization on seven previous projects to maximize value from volatile energy markets over the past 20 years. With this enterprise-level upgrade, Uniper will be able to expand its existing projects:
- Energy storage modelling: Uniper can now base its energy storage valuations on a combination of multiple income streams. This new ability to identify both complementary and mutually exclusive income streams is helping Uniper develop more robust business cases.
- Energy asset management: Uniper is now able to offer its expertise on predictive maintenance in power plants to other energy providers worldwide, which opens up new revenue streams.
- Commercial optimization of heat and power assets: The FICO® Xpress Mosel modelling language allows Uniper to include heat constraints and assets into its power optimization model, in order to maximize electricity production while meeting heat obligations.
"The energy industry is rapidly expanding its use of mathematical optimization across a wide array of business areas, from supply chain management to clean energy production," said Mark Collingwood, FICO vice president for decision management solutions in Europe, the Middle East and Africa. "The adoption of FICO Xpress Optimization at enterprise level will streamline and improve Uniper's existing decision processes, while building on the success of previous projects."
About Uniper
Uniper is a leading international energy company with around 11,500 employees and activities in more than 40 countries. With about 34 GW of installed generation capacity, Uniper is among the largest global power generators. Its main activities include power generation in Europe and Russia as well as global energy trading, including a diversified gas portfolio that makes Uniper one of Europe's leading gas companies. In 2019, Uniper sold a gas volume of 2.179,3 bln kWh. The company is headquartered in Düsseldorf, being the third-largest listed German utility. Under its new strategy, Uniper aims to become carbon neutral in Europe by 2035.
About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 195 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.
Learn more at http://www.fico.com
FICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries.
SOURCE FICO
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