Triple Point Technology, provider of multi-market commodity and enterprise risk management software solutions, announced today Canadian-based Bruce Power has licensed Commodity XL to support generation and wholesale and retail marketing operations.
Bruce Power selected Commodity XL for its singular ability to provide end-to-end commodity management, including physical and financial trading, market risk, hedge accounting and counterparty credit risk, on an integrated platform.
Bruce Power is Canada’s first private nuclear generating company and the source of nearly 25% of Ontario’s electricity, with revenues in excess of $2.0 billion CAD. Founded in 2001 and located in Tiverton, Ontario, the power company operates six reactor units and is in the process of restarting two more.
“Bruce Power required an energy trading and risk management software system that could handle existing business — as well as planned expansion into other North American markets — on a single platform,” said Richard Horrobin, VP, Power Marketing, Bruce Power. “We reviewed several competing platforms and Triple Point’s Commodity XL solution suite offered best-in-class products for the front, middle and back office. With Triple Point’s proven track record, we look forward to a successful partnership for years to come.”
Bruce Power licensed a total solution suite from Triple Point including Commodity XL for Power, Hedge Accounting, Fair Value Disclosure, Credit Risk and Credit Analytics. Additionally, Bruce Power licensed Commodity XL Xchange, Management Dashboard and Power Scheduling ‘Visual Cockpit’.
“Triple Point offers the only enterprise solution that manages across trading and risk, hedge accounting and compliance, counterparty credit risk, integrated logistics and business intelligence — all on a single, real-time platform,” said Peter F. Armstrong, president and CEO, Triple Point. “Bruce Power’s selection of Triple Point is a strong endorsement of Commodity XL’s depth to the active Canadian market. We are proud to add a customer of Bruce Power’s caliber to our established client base in the region.”
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