|DTEK Selects Allegro Energy Trading and Risk Management|
Ukrainian Energy Company to Manage Coal and Power Operations with Allegro Software
DALLAS, June 26, 2012 – Allegro, a leading provider of energy trading and risk management (ETRM) software, announced today that DTEK has selected the Allegro 8 platform to manage its coal trading and logistics, power generation and power trading operations. DTEK required an integrated solution to implement sophisticated business processes and controls around trading, valuation, hedging, logistics, and risk management, as well as provide better transparency into positions and a quantitative methodology to improve position management.
DTEK, the largest privately-owned vertically-integrated energy company in Ukraine, operates a production chain from coal mining and processing to electricity generation and sales. Much of the coal mined at DTEK is prepared at the company’s own plants and supplied to enterprises in DTEK’s generating division, while some of the coal is exported to Europe, Asia, South and North America. The electric power produced by DTEK is supplied to Ukraine’s wholesale energy market, and power purchased on the market is supplied to Ukraine’s largest industrial consumers. Electric power is also exported to Belarus, Moldova, Poland, Hungary, Slovakia and Romania and DTEK cooperates with many of the main energy trading companies in Europe.
“Increasing commodity and market complexities prompted DTEK to seek a software solution to effectively support our business expansion. With Allegro, DTEK will benefit from an integrated energy trading strategy and true position management to support multiple commodities and the complex hedging and risk management techniques associated with our business,” said Andrey Favorov, Commercial Director at DTEK. “Allegro’s Agile deployment approach allows DTEK to rapidly implement the technology infrastructure and begin realizing business benefits, as well as provide the framework on which to extend in future phases to include new markets, commodities, and users.”
Replacing spreadsheets and manual processes with a single integrated solution will provide DTEK numerous business benefits, including:
“We look forward to working with DTEK as they expand their power trading business in Ukraine and throughout Eastern Europe,” said Jonathan English, Allegro Vice President, EMEA Sales. “The Allegro 8 platform will give DTEK the technology and advanced analytics to better seize market opportunities in this region.”
DTEK is the largest privately-owned vertically-integrated energy company in Ukraine. The Company is part of the financial and industrial group System Capital Management (SCM). DTEK’s enterprises form an efficient production chain from coal mining and preparation to electricity generation and supply. The coal business of DTEK includes DTEK Pavlogradugol (consisting of 10 coal mines), DTEK Dobropolyeugol (5 mines), DTEK Mine Komsomolets Donbassa, DTEK Rovenkyanthracite (6 mines and 3 coal preparation plants), DTEK Sverdlovanthracite (5 mines and 3 coal preparation plants), Mine Bilozerska and five coal preparation plants. The power generation business of DTEK is represented by DTEK Skhidenergo, DTEK Zakhidenergo and DTEK Dniproenergo. Servis-Invest, DTEK Energougol ENE and DTEK Donetskoblenergo companies represent the electricity sales and supply business of DTEK. Kyivenergo, a company generating and supplying heat and electricity in the city of Kiev, is also part of DTEK. For more information, see: www.dtek.com
About Allegro Development
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 29 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.
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