Posted on: 31/05/2016
The UK’s largest purchaser of energy generated by the independent sector to manage physical and financial trading and risk management activities with Allegro.
Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, has announced that SmartestEnergy has selected the Allegro platform to manage its power, gas, emissions and renewables portfolios.
“SmartestEnergy need a robust, flexible and proven platform as a foundation to manage all of our business activities in respect of trading and risk management, as well as a reliable partner through system implementation and beyond,” said James Clarke, Vice President at SmartestEnergy.
"We expect Allegro to deliver strong support for all areas of energy trading, trading operations, and risk management. We are looking forward to a partnership to consolidate and enhance our current ETRM activities across wholesale, generation and supply, and to address changing business and market conditions, customer needs, and regulatory requirements. Allegro will provide a single platform for us to monitor and manage our exposure across our entire portfolio.”
For this reason, SmartestEnergy selected Allegro to support their growth and help optimise and automate business processes across Trading, Trade Control, Risk Management, Regulatory Compliance, Finance & Back Office and IT Operations.
Allegro will support SmartestEnergy with the following benefits:
- Ability to quickly and accurately capture power, gas and emission trades and to manage those trades including complex pricing, confirmations, settlement and invoicing;
- Streamlined scheduling activities with customizable reports, integration for TSO nomination and notification formats;
- Optimal decision making with Mark-to-Market (MtM), Profit & Loss (P&L), advanced attribution/industry cost and market exposure reporting;
- Ability to mitigate credit risk with collateral management, counterparty exposure monitoring and advanced credit analytics; and
- Extensibility to support integration and future expansion into new markets and product offerings;
- The scalability and technology required to accommodate future growth.