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Elektro Energija Selects Allegro Energy Trading and Risk Management
By: Business Wire
Nov. 6, 2012 03:00 AM
Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced today that Elektro Energija selected the Allegro 8 platform to manage its power trading operations. Elektro Energija required a fully integrated system to support the company’s growth plan by streamlining and automating business processes, including deal capture, confirmations, scheduling, settlement, accounting, position and risk management.
Elektro Energija is the biggest state-owned Slovenian utility, managing a portfolio of almost 300,000 consumers. Elektro Energija’s wholesale business unit trades electricity in Slovenia, Austria, Germany and some South Eastern Europe countries. Their business of regional power trading requires cross-border movements, including communication with various TSOs and Market Operators.
“Our main objective was to find a system that would support our future development in wholesale trading, automate our business processes, and improve position management and decision making,” said Elektro Energija´s general director, Gregor Božič, MSc. “Allegro 8 offers the strong functional support for position and risk management and enables a firm basis for effective cross-border power trading and efficient communication with national TSOs.”
Elektro Energija has completed the first of three phases of the software implementation and is currently leveraging Allegro’s solution to manage trade entry (tradebook), general agreement management, confirmation creation, price entry and portfolio management & risk management.
Allegro will help Elektro Energija meet their business goals, including:
Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 28 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities. Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners. www.allegrodev.com
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