Retail Electricity and Gas Provider Successfully Implements Proven Transaction Processing Functionality and Becomes the 1st Power Market Gateway Client
Houston, TX January 30, 2006 OpenLink (www.olf.com), an energy and financial trading and risk management software developer, announced today that Strategic Energy has successfully implemented Endur and the Power Market Gateway (PMG). Strategic Energy will leverage Endur and PMG to support their straight-through-processing requirements for physical and financial power transactions. The PMG is a new product that interfaces pMotion (OpenLink’s power scheduling product) with The Structure Group’s nMarket® energy transaction software platform for bi- directional connectivity to the regional Independent System Operators (ISOs) for power schedules, awards, prices, and settlement data.
Strategic Energy has been providing energy products and services to businesses nationwide for nearly 20 years and is one of the largest competitive retail energy providers in the United States. Strategic Energy provides knowledge and experience in deregulated markets to create opportunities for small businesses, medium-sized commercial organizations, and large multi-site energy consumers to achieve competitive pricing in the electricity marketplace.
Bjorn Hagelmann, Director of Risk Management for Strategic Energy, commented, “After our comprehensive implementation, we can truly validate Endur’s extensive and robust functionality and its compatibility across all aspects of our wholesale business. Our commitment to state-of-the-art business systems like Endur is a key aspect of our ability to provide industry-leading services for our retail clients.”
Matthew Frye, managing director of OpenLink’s Houston division, noted, “With Strategic Energy now live on Endur, pMotion, and PMG, they are able to create and maintain contracts; submit demand bids, virtual supply/offers, and energy schedules; and view market results in automated and real-time formats. The most seamless and automated trading, risk management, operations, and logistic environment for leading energy firms!”
Coleman Fung, founder and CEO of OpenLink, added, “OpenLink will continue to dedicate significant resources to the energy markets, and our new relationship with Strategic Energy is an integral part of our commitment. Endur, pMotion, and PMG will allow Strategic Energy to stay one step ahead, improve their operations, support future growth, and reduce their overall cost of ownership.”