Triple Point Technology, the leading global supplier of cross-industry commodity trading, risk management and logistic software platforms, announced today that Tennessee Valley Authority (TVA) has chosen to implement Triple Point’s Commodity XL™ for Power and Gas as its trading and risk management software system.
TVA is a federal corporation and the nation’s largest public power company. With revenues of over $9 billion a year, TVA provides power-service to 80,000 square miles in the southeastern United States, including most of Tennessee and parts of Mississippi, Kentucky, Alabama, Georgia, North Carolina, and Virginia.
“TVA needed a solution that enabled them to accurately measure and manage risk exposure by integrating information from disparate sources within a single, multi-commodity platform. Commodity XL’s real-time, comprehensive reporting capabilities and ability to create reports on the fly without the need to involve IT resources, was a huge selling point,” commented Greg Taylor, vice president, global sales, Triple Point. “In addition, TVA had a very tight timeline to implement the project; Triple Point’s Quick Start™ program was key because it meant TVA would be up and running on Commodity XL in as few as 6 weeks,” added Taylor.
“Today’s utility companies require robust technology solutions that integrate information across multiple commodities, locations and business areas. With strict corporate and regulatory requirements to meet, Commodity XL’s detailed audit trails, complete risk management support, and flexible yet comprehensive reporting, give utilities the advanced compliance functionality they need," said Michael Schwartz, chief marketing officer, Triple Point. "Commodity XL is an integrated solution that streamlines business operations, eliminates errors associated with manual processes and creates a framework for better trading and risk management,” added Schwartz.
Triple Point Commodity XL for GasTM handles all the complexities of physical and financial trading, risk management and scheduling on a single platform for participants in global natural gas markets, including trading and marketing firms, pipelines, producers, large consumers, wholesalers and local distribution companies. It supports all physical and financial gas trading activity including swaps, options, futures, physical forwards, structured deals and full requirement supply contracts. The system automates the confirmation and nomination processes, the scheduling and physical movement of natural gas to fulfill supply and distribution obligations, the settlement of physical and financial transactions, and the forecast and management of cash.
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