Ag Energy Co-operative, Canadaâs largest farm energy co-operative supplying natural gas and electricity and related services to agricultural producers in Ontario, has chosen RiskAdvisoryâs BookRunner software to capture the details of its energy transactions, implement strong risk management processes and sustain its continued growth in the Canadian energy and commodities markets. RiskAdvisory is a division of SAS and a leading provider of integrated risk solutions to energy market participants.
âAg Energyâs decision to purchase RiskAdvisoryâs BookRunner software was due to our need to manage risk more thoroughly given our rapid growth and the demands of our members,â said Michelle Vieira, Energy Portfolio and Operations Manager for Ag Energy Co-op. âOur business enjoys rapid expansions when we make enhanced commodity services available to our 250 members. However, a few years ago, when we added electricity services to our gas services, our need to manage risk increased exponentially. Choosing BookRunner made sense from the perspective that weâve outgrown the capabilities provided by spreadsheets and needed more sophisticated deal-capture tools with great flexibility.â
Vieira said that BookRunnerâs credit monitoring and mark-to-market capabilities convinced Ag Energy that it was the right fit for their needs. The co-op must constantly monitor the credit positions of its members and its vendors, to ensure that its large commodity transactions are properly backed. The real-time mark-to-market capability of BookRunner also swayed Ag Energy.
âWe also purchased BookRunner based on the knowledge that if, or when, Ag Energy decides to expand the commodities it offers to members, BookRunner has the capability to expand along with it,â she added. âOur team was convinced that BookRunner was not just a solution-software sale, but rather a solution that evolved out of RiskAdvisoryâs history and experience in the gas, electric and energy marketplace.â
RiskAdvisory will provide Ag Energy with its new BookRunner v11, released in May. BookRunner v11 responds to the fact that todayâs IT organizations are upgrading their applications from closed systems on single computers and servers toward service-oriented platforms that are available on the Internet, intranets or extranets and accessible through web browsers. IT departments deploying BookRunner v11 are able to upgrade or customize the software in real-time leading to substantial cost savings. The technology is secure and access can be opened or closed according to a companyâs business objectives and controls.
Vieira said BookRunnerâs web-based architecture impressed her during a demonstration provided by RiskAdvisoryâs Louis Caron. It also passed muster with Ag Energyâs IT department, which had originally vetted BookRunnerâs capabilities.
âCompanies like Ag Energy are coming to grips with the special needs of risk management practices and their purchase of our software provides further evidence of RiskAdvisoryâs position as a premier provider of energy risk reporting and tracking software,â said Louis Caron, Energy Risk Specialist of RiskAdvisory. âWe are pleased to support our customersâ needs in volatile energy markets and to be a positive factor in their growth and risk management operations.â