Triple Point Technology®, the leading global provider of multi-market commodity and enterprise risk management software solutions, announced today that The Energy Authority has licensed Commodity XL™ to manage its energy commodity trading, marketing, scheduling and counterparty credit risk processes.
The Energy Authority (TEA) is the nation's leader in public power energy trading and risk management. It is wholly-owned and directed by six Public Power Members and has contractual relationships with more than 30 electric-generating municipal Partners. The corporation operates in both bilateral and regulated power markets, with approximately 25,000 MW of generation under management.
TEA has grown dramatically in commodities traded, trade volumes, transaction complexity, number of customers and geographic regions. To manage current growth and planned expansion into more products, services and markets, the company required a more robust system to manage all physical and financial power and gas trading activities.
“Our company has experienced tremendous growth and required a commodity management system that could continue to support current trading activities, as well as planned expansion,” said R.T. “Bob” Dyer, P.E., President and CEO, TEA. “After a rigorous review of competing systems, Triple Point surfaced as the clear and winning provider of a complete, end-to-end solution capable of handling all of our current and future requirements.”
TEA selected Triple Point’s Commodity XL to improve efficiency of trade processing, risk control and invoicing. Commodity XL will help reduce financial and operational risk and provide better access to information for decision support and reporting. Additionally, the solution provides TEA with comprehensive credit risk tools to manage credit exposure, collateral management, counterparty evaluation and internal limit setting.
“Triple Point has always provided the broadest multi-commodity solution," said Mike Ravo, VP, industry solutions, Triple Point. "With the recent launch of modules that support credit risk management and regulatory compliance, Triple Point also delivers the most comprehensive enterprise risk management solution available.”
TEA licensed the following Commodity XL modules: Commodity XL for Power™, Commodity XL for Gas™, Commodity XL for Oil™, Power Scheduling ‘Visual Cockpit’™, Gas Scheduling ‘Visual Cockpit’™, Commodity XL for Credit Risk™, Credit Risk Analytics™ and Commodity XL Xchange™.
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