PacifiCorp’s PPW and PPM go live with FUTRAK IAS39 / IFRS 39

INSSINC today announced the live implementation of its software product, FUTRAK, at PacifiCorp’s Portland headquarters, PPW, and at its marketing subsidiary, PPM. The implementations entailed interfaces from Zai*Net, as well as their in-house risk management system and allowed them the ability to receive IAS 39 / IFRS 39 hedge accounting treatment on their power and natural gas hedges. Additionally, they now have the ability to achieve cash flow hedge accounting treatment on storage positions.

PacifiCorp was formed in 1984, when its coal mining and telephone businesses grew into full-fledged enterprises. In 1989, it merged with Utah Power and Light, and continued doing business as Pacific Power and Utah Power. In 1999, PacifiCorp merged with United Kingdom-based ScottishPower. Today, the company is one of the West’s largest and lowest-cost electric utilities.

INSSINC has provided companies with hedge accounting and risk management software for over 20 years. Founded in 1983, INSSINC offers risk management, FAS133, and IAS 39 software that can be deployed as an ASP or on-site to energy companies including: E&P, gas gatherers, pipelines, refiners, petrochemical firms, power utilities, LDC energy retailers, municipals, cooperatives, and energy merchants. In addition, they provide support for natural gas, crude, power, NGLs, and refined products.

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