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Since being licensed as a Retail Electric Provider by the Public Utilities Commission of Texas in early 2005, and becoming an active member of the Electric Reliability Council of Texas (ERCOT), Stream Energy has quickly grown into one of the largest participants in Texas’s deregulated electricity market. The success of Stream Energy is in large part attributable to an aggressive pricing model combined with highly innovative marketing and distribution strategies. Stream Energy secures electricity through a variety of sources to provide retail customers highly competitive rates. As a result, the ability to better understand and mitigate risk related to price, volume, weather and other market conditions is crucial.
Stream Energy will use Allegro to manage several critical business processes including procurement, transaction and risk management, power operations, scheduling, and energy accounting. Additionally, Allegro’s automated hedge management and reporting capabilities will be deployed to further enable compliance.
“Allegro will enable Stream Energy traders and risk managers to more effectively manage valuations, accurately identify exposures and examine volatility and its impact from virtually every measurement standpoint,” stated Fasih Hussain, vice president of business development, Allegro. “Additionally, deploying Allegro will result in more efficient, automated processes for managing price, supply and demand, as well as executing trading strategies within required control limits.”
“The addition of the Allegro Trading Platform allows us to more efficiently and effectively quantify our risk in the various markets throughout our portfolio,” stated Mr. Eric Hendrick, Director of Wholesale Power at Stream Electric, Ltd.
The implementation of Allegro Transaction and Contract Management, Settlement and Financials, Power Scheduling and Logistics application modules will immediately provide Stream energy professionals with the ability to capture transactions directly into the trading and risk system, in real time. Further, integrated physical and portfolio management gives Stream Energy the ability to relate physical and financial positions to develop “what if” scenarios necessary to optimize choices and immediately respond to changing market conditions. Allegro will also automate many processes enhancing the timeliness of reporting resulting in a comprehensive, secure, and auditable record of all energy transactions.
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