HOUSTON, 13 October 2004 - SunGard Energy Systems, an operating group of SunGard (NYSE: SDS), announced today that Belgium-based energy company, SPE, s.a. has selected ZaiNet to help streamline and improve risk management and trading for its power and gas operations. ZaiNet will provide straight-through processing for all traded commodities at the company, with helping to improveimproved reporting and audit control.
With the liberalization of the energy markets in Europe, SPE is expanding its horizons beyond Belgium. To support its expansion, SPE needed accurate modeling of complex contracts, efficient management of risk management policies and regulatory reporting, and streamlined back- office functionality. It selected ZaiNet with Advanced Analytics for end-to-end transaction processing of trades, portfolio management and asset optimization. With power generation capacity of 1600MW, SPE's heat and power generation assets encompass nuclear, gas-fired, fuel-oil, and hydro.
Pierre Hotterbeex, ICT and controlling manager of SPE, stated, "Our decision to purchase SunGard's ZaiNet solution was driven by our need to capitalize on the opportunities presented by liberalization and to effectively manage risks. Our existing spreadsheets and legacy systems were simply not adequate to support the increased complexity of our contracts and expansion of our trading activities."
Matt Mandalinci, president of SunGard Energy Systems, remarked that "SPE selected SunGard's ZaiNet over two other solutions for its proven energy risk management, analytics and reporting tools. SunGard's strong balance sheet and its depth of expertise across all aspects of risk management were also important elements of its selection."