|IWB Selects Allegro Development Energy Trading & Risk Management Solution|
Swiss Utility Utilizes Allegro 8 Platform to Optimize Power Trading Operations
ZURICH, Switzerland, June 28, 2011 - Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced today that Industrielle Werke Basel (IWB), an independent Swiss utility company owned by the city of Basel, has selected the Allegro 8 platform to manage its power trading activities.
IWB is currently reshaping its power trading operations in response to the ongoing liberalization of the Swiss electricity markets and required a flexible platform to optimize trade capture, scheduling, market and credit risk management and settlement operations.
"Allegro demonstrated the ability to provide a fully integrated approach to managing our business,” said IWB Head of Supply and Deputy CEO, Mr. Bernhard Brodbeck. “With the ability to support the physical and financial aspects of our power trading and to manage the risk associated with these activities, as well as the option to seamlessly connect with our existing accounting system, we expect to gain the visibility and business process efficiency necessary to meet our objectives. The Allegro 8 technology architecture offers the flexibility and business capabilities we need to succeed in the European market environment."
Allegro 8 provides IWB a number of benefits, including:
IWB is the utility company in the region of Basel in northwestern Switzerland, providing electricity, gas, district heating, water and telecommunications services. IWB operates a large and diversified portfolio of power generation assets with substantial participations in various major Swiss pump storage plants. Combining ecology, economics and innovation, IWB is a leader in sustainable energy and optimized energy efficiency with future-oriented services that are both economical and of superior quality. In addition, IWB’s 190’000 customers benefit from a freedom of choice about the ecological alignment of their energy products. With the regionwide expansion of the fiber-optic network, IWB also significantly contributes to the attractiveness of the region of Basel.
About Allegro Development
Allegro is a global leader in energy trading and 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 supply chain 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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