SunGard announced today that SmartestEnergy, a leading purchaser of electricity produced by independent power generators in the UK, has chosen SunGard’s ZaiNet to help manage real-time energy trading and risk activities on behalf of its clients.
SmartestEnergy currently purchases over 1,000MW of power, generated at more than 350 sites across the UK, by clients ranging from blue chip industrial companies to small hydropower sites. SmartestEnergy sought a solution that could not only provide a fully transparent audit trail in its pricing engine, but that is also capable of handling the complexities of its two core product offerings- Power Purchase Agreements (PPAs) and Electricity Trading Service Agreements (ETSAs).
ZaiNet will be used to capture, settle and report on standard, medium and long-term complex power purchase contracts as well as to analyse embedded benefits including Renewable Obligation Certificates (ROCs) and Climate Change Levy Exempt Certificates, (LECs).
Robert Groves, chief operating officer at SmartestEnergy, said, “Our priority is to secure the highest possible returns for clients’ power, within a sensibly risk-managed framework. ZaiNet’s flexible capabilities will help us to analyse in detail each element of every power purchase agreement. This, in turn, will mean that we will be able to offer more competitive pricing terms and apply customised risk management strategies to each one of our clients.”
Matt Mandalinci, president of SunGard’s energy business, said, “ZaiNet is a proven solution for handling the complexities of power trading in the UK and across Europe, offering real-time views of enterprise-wide risks and supporting the trading of a wide range of physical and financial instruments.”
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