Italian Power Generator to Manage Business Growth with Allegro Software
ZURICH, March 7, 2012 - Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced today that CVA S.p.a. has chosen the Allegro 8 platform to manage its power generation and trading activities. CVA needed a scalable software solution that would support company growth, provide visibility into positions, and effectively maintain controls to mitigate risk.
CVA is a generation company based mainly on hydroelectric production located in the Valle d’Aosta region of Italy. The company’s assets include 35 power stations of which five are dams, 26 are hydroelectric plants and 4 are photovoltaic stations; exceeding in total a power capacity of 920 MW. CVA Trading belongs to the CVA Group, which is 100% owned by CVA S.p.a..
“We were looking for a platform that would support CVA as we increase trade volumes, expand into additional European markets, and implement new business processes in our trading organization,” said Stefano Danna, Trading Department Chief of CVA Trading. “We quickly realized that the Allegro technology offered the detailed analysis of positions, effective risk controls, process efficiency, and flexibility we need to support our business growth.”
As CVA expands its trading both geographically and in terms of volume, Allegro 8 provides the following:
- Increased transparency and process efficiency with fully integrated physical and financial transactions and analysis
- Improved risk management with audit trails and reliable risk controls with the ability to evaluate mark-to-market, credit VaR, cash flow at risk, earnings at risk, and profit at risk
- Enhanced market decision making with trade analytics including simulation, P&L, and the ability to implement and monitor limits (by trader, trade book, or product)
- Increased trader productivity with real-time connectivity to principal platforms via Allegro’s Exchange Connect component
- Improved data security and management with single repository and portfolio valuation
- Greater productivity through seamless integration with internal accounting system with Allegro’s ERP Connect component
- Improved process control through an automated deal life-cycle across front, risk and back offices with rapid trade input, advanced analysis, and customized reporting
Allegro is a leading provider of commodity management software for power and gas utilities, refiners, producers, traders and commodity consumers. With more than 30 years of industry expertise, Allegro’s software provides the global intelligence companies need to manage physical and financial positions, and to optimize their assets and portfolios using tools that quantify and mitigate risks. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Dubai, Houston, London, Singapore, and Zurich, along with a global network of partners.
For further information please contact Samantha Johnston at JLIB_HTML_CLOAKING or +18.104.22.16849.