The Importance Of Power Industry Reporting Solutions

Facing unique challenges, both driven by the market and regulatory agencies  is the nature of the dynamic power industry.  As the industry grows and changes energy companies need software suited especially for their specific needs. Versify is the leader at creating dynamic and functional power industry reporting solutions. Let’s take a look at the power industry needs and the power industry reporting solutions available to enable your entity to grow.

Compliance Needsshutterstock_169660256

Like every industry, the energy industry is responsible to remain compliant with a plethora of federal, state and local statutes. NERC compliance is top of mind for all entities who have anything to do with the power industry, whether you are a generator, transmission entity or distribution company, NERC governs almost every aspect of your security, cyber asset protection and reliability. To maintain compliance, entities have a massive reporting responsibility. There are over 90 NERC Reliability Standards—and maintaining logs of every piece of data can be a full-time for a staff of 100!

Versify Solutions offers the comprehensive and fully customizable Portal Compliance software, for all energy entities in North America. Portal Compliance is a one-stop, automated solutions that tracks all your compliance related events. It stores, analyzes and prepares data for compliance audits by the NERC-empowered Regional entities.

ISO Outage Reporting

Depending on your location, your entity may have ISO planned outage reporting requirements. Planned outages typically must be reported between 60 to 90 days before the outage. Using V-Performance, your entity can track capacity, planned maintenance, security upgrades and other predictable issues to report to your regional entity. You can also plan outages strategically to ensure you are maximizing your profits.  Using this as one of your power industry reporting solutions will also help you track demand and make capacity decisions to minimize unplanned outages in the event of a high demand period like the summer or winter months.

Trading Needs

If you are an energy trader, you need more than the latest market numbers. V-Trader from Versify provides you with the most up to date market data plus historical analysis. V-Trader with the add-on SmartStat provides predictions based on key market indicators. These tools give you the edge in all trades and energy asset purchase decisions.

Want to hear more about power industry reporting solutions from Versify? Contact us today for a free consultation, to sign up for a webinar or to request our White Papers!