Innovative optimization capabilities help
Mexico’s National Center for Energy Control improve efficiency and
mitigate flood risks
FICO (NYSE: FICO):
Highlights:
- PSR uses FICO® Platform Enterprise Optimization
capabilities to help improve energy production and water resource
management
- CENACE, Mexico’s National Center for Energy Control, adopts
PSR’s tools to optimize the country’s power system operations
- Implementation results in over US$300 million in savings in
2022 and enhanced flood management in Tabasco
- PSR won the 2024 FICO® Decision Award for ESG
Champion
PSR, a global provider of analytical solutions for the energy
sector, has significantly enhanced the operation of Mexico’s power
and water systems by leveraging FICO® Platform Enterprise
Optimization capabilities. Mexico’s Centro Nacional de Control de
Energía (CENACE), responsible for coordinating and operating the
national power system, has used these advanced tools since 2021 to
optimize energy production and improve water resource management,
leading to substantial economic and environmental benefits.
The successful implementation has not only mitigated floods in
places like Tabasco, benefiting the 1 million residents of the
region, but also saved the Mexican government a remarkable US$300
million in savings in 2022 alone.
More information:
https://www.fico.com/en/platform/enterprise-optimization Watch PSR
tell their story on video
“Optimizing the storage levels in hydroelectric plant reservoirs
in uncertain conditions is crucial for balancing water use between
energy production and consumption needs, while adhering to
environmental constraints and preventing floods,” said Raphael
Chabar, executive director of optimization and analytics at
PSR. “The contribution of FICO Platform is essential, as it
serves as the central resolution engine that streamlines
decision-making and ensures optimal results swiftly.”
Transforming Energy and Water Management with Advanced
Optimization
CENACE, the official entity tasked with the operation of
Mexico's power system, adopted PSR’s computational tools to handle
multiple sources of uncertainties — such as inflows, renewable
energy production, energy demand, and fuel prices. By utilizing a
probabilistic approach powered by FICO Platform, CENACE has
optimized the management of hydroelectric reservoirs, balancing
energy production with flood prevention efforts.
Before adopting FICO Platform, CENACE's planning relied on
deterministic optimization, which posed significant risks when
future events deviated from predictions. This conservative approach
often led to excessive water accumulation, exacerbating flood
impacts during heavy rains. The shift to an optimization approach
based on probabilistic and statistical methodologies marked a
significant improvement in decision-making and risk management,
resulting in a more robust national infrastructure.
“Modeling the planning process requires considering a long
horizon of uncertainty scenarios, with multiple stages spanning
years, in monthly or weekly resolutions, and each energy generator
having an individualized representation, which is tremendously
complex,” said Chabar.
A Solution Where Everything Flows as it Should
Thanks to PSR’s cutting-edge optimization approach enabled by
FICO Platform, CENACE has achieved more accurate operational and
risk assessment analyses, significantly improving energy and water
security. In the Tabasco region, proper management of water
reservoirs is crucial for flood mitigation, directly benefiting
around 1 million residents. Additionally, Mexico's efficient
management of its electrical grid supports the energy transition
and reduces energy dependence; natural gas imports for electricity
generation decreased by 4% in 2022 compared to the previous
year.
“The success of this project is evident in the stable flow of
the Usumacinta and Grijalva rivers, which now operate within their
natural parameters," said Mario Veiga Pereira, founder of
PSR. “By avoiding excessive water accumulation, we have
mitigated flood risks and ensured a more reliable energy supply.
This balance not only safeguards the environment but also enhances
the quality of life for the people in Tabasco, something we are
really proud of.”
“PSR’s innovative application of FICO Platform has set a new
benchmark in energy and water resource management,” said Nikhil
Behl, EVP of software at FICO. “Their ability to optimize
complex systems to plan for uncertainty not only saves costs but
also ensures environmental safety, showcasing the power of advanced
analytics in achieving sustainable outcomes.”
For its achievements, PSR won the 2024 FICO® Decision Award
for ESG Champion.
“What can be more important that managing water, the lifeblood
of the planet?” said Eric Kavanagh, CEO of Bloor Group, host of
InsideAnalysis, and one of the FICO Decision Awards judges.
“This initiative demonstrates how companies can solve incredibly
complex problems using advanced tools to deliver outcomes that
impact the lives of millions of people.”
To see the full list of 2024 FICO Decisions Awards winners,
check out: https://www.fico.com/en/decisionsawards.
About PSR
PSR is a global provider of analytical solutions for the energy
sector, offering innovative consultancy services and specialized
power systems planning software. With products applied in over 70
countries, PSR contributes to the research and development of tools
that ensure reliable, cost-effective power system operations and
support decarbonization efforts.
About the FICO® Decisions Awards
The FICO Decisions Awards recognize organisations that are
achieving remarkable success using FICO solutions. A panel of
independent judges with deep industry expertise evaluates
nominations based upon measurable improvement in key metrics;
demonstrated use of best practices; project scale, depth and
breadth; and innovative uses of technology. The 2024 judges
are:
- Andrew Birmingham, editor, Mi3
- Eric Kavanagh, CEO Bloor Group and host,
InsideAnalysis
- Elizabeth Lumley, deputy editor, The Banker
- Paul Mah, senior editor, CDO Trends
- Laura Martins, editor, IT Forum
- Paul Robinson, VP credit management at Canadian Tire
Bank (previous winner)
- Shiv Sehgal, EVP audience analytics at RSG Media
(previous winner)
- Nick Vitchev, director at Chartis
About FICO
FICO (NYSE: FICO) powers decisions that help people and
businesses around the world prosper. Founded in 1956, the company
is a pioneer in the use of predictive analytics and data science to
improve operational decisions. FICO holds more than 200 US and
foreign patents on technologies that increase profitability,
customer satisfaction and growth for businesses in financial
services, insurance, telecommunications, health care, retail and
many other industries. Using FICO solutions, businesses in more
than 100 countries do everything from protecting 4 billion payment
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and has been made available in over 40 other countries, improving
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Learn more at www.fico.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240814550116/en/
Cibely Toller In Press Porter Novelli for FICO +55 11 3323 1596
+55 11 99858 8500 cibely.toller@inpresspni.com.br
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Fair Isaac (NYSE:FICO)
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