"In the last two months, three major competitive energy companies have selected our MonacoÂ® solution for better managing their energy trading and risk management requirements," states Deane S. Price, President and Chief Executive Officer of NewEnergy. âThe addition of these new clients confirms the value of our Monaco application and strengthens NewEnergyâs top-tier position in energy trading and risk management solutions," adds Ms. Price.
Meeting the business requirements of each of these organizations demonstrates the flexibility of Monaco to satisfy diverse needs. Monacoâs capabilities span several functional groups, including fuel and power procurement, operations, credit, risk, and accounting. In addition, Monaco can function as an independent application or as part of an integrated Trading and Market Operations suite that allows traders, schedulers, risk analysts, and back-office personnel to manage their respective business activities, such as trading, risk management, ISO scheduling, and shadow settlement, from the same data source.
Most recently, Monaco was selected by a gas marketer to manage its physical and financial transactions related to natural gas trades. In another instance, an energy supply and trading company will use Monaco to hedge energy risk as well as support its expanding natural gas trading capability. Lastly, a large natural gas marketer, who also manages natural gas well heads and retail load, will use Monaco to facilitate full front- to back-office activities in three geographic locations.
âThe interest in Monaco, and our integrated operations suite, is growing tremendously. Companies are recognizing the incredible cost savings and ease of use that accompany an integrated solution, particularly as the energy industry evolves at such a rapid pace,â says Ms. Price. âWeâre excited to be on the forefront of this trend.â