Ventyx has announced a complete solution for outage lifecycle management to help utilities more effectively manage the end-to-end process for minimizing the impact of major storm outages on customers. The Ventyx Outage Lifecycle Management is a unified solution that addresses every key business process in the outage management lifecycle – from planning and preparation, to communications with customers, through to final restoration of service and regulatory reporting.
Many utilities have decades of experience in delivering power reliably. However, today they are faced with unprecedented challenges, including growing energy demand, aging infrastructures and workforces, new regulatory requirements and growing customer-service expectations.
Significant changes in global climate conditions have also resulted in extreme weather events around the world – including hurricanes, droughts, bush fires and flooding – resulting in both short-term and long-term power outages. In fact, a recent study by the U.S. Congressional Research Service estimated the economic impact from storm-related outages to the U.S. economy at between $20 billion and $55 billion annually. The study also suggested that outages due to weather-related events will continue to increase.
The Ventyx Outage Lifecycle Management Solution is being developed with strategic guidance by leading utility companies, such as Ventyx customer DTE Energy. As part of DTE Energy’s innovative smart grid program, the Detroit-based utility is working to further improve fault detection, outage management and asset maintenance through the deployment of Ventyx software.
