|National Grid to Implement Allegro Development Corporation’s Energy Trading & Risk Management Solution Product for its Multi-Commodity Operations|
DALLAS, TX, December 14, 2010 - Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced today that National Grid, an international electric and gas company, has selected the Allegro 8 platform to manage its power, natural gas, liquefied natural gas (LNG), natural gas liquids (NGL) and renewables trading operations in the United States. National Grid needed a platform that would support all aspects of their multi-commodity business, including deal capture, procurement, scheduling, risk and credit management, reporting and invoicing.
“Our business relies on information from many sources and we need to easily be able to monitor risk, credit, and trading across our multi-commodity enterprise,” said Lorraine Lynch, National Grid Vice President and Treasurer. “We look forward to working with Allegro, and the flexibility of its architecture to meet our requirements.”
As a system of record, Allegro 8 will further National Grid’s ability to:
About National Grid
National Grid is an international energy delivery company. In the U.S., National Grid delivers electricity to approximately 3.3 million customers in Massachusetts, New Hampshire, New York and Rhode Island, and manages the electricity network on Long Island under an agreement with the Long Island Power Authority (LIPA). It is the largest distributor of natural gas in the northeastern U.S., serving approximately 3.4 million customers in Massachusetts, New Hampshire, New York and Rhode Island. National Grid also owns over 4,000 megawatts of contracted electricity generation that provides power to over one million LIPA customers.
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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