Triple Point Provides Utility with FAS 133 Hedge Accounting Software Solution

14 January 2009

Triple Point Technology®, the leading global provider of multi-market commodity and enterprise risk management software solutions, announced today that Arizona Public Service Company (APS) has selected Commodity XL for Hedge Accounting™ to ensure FAS 133 compliance.

APS generates, sells and delivers electricity and energy-related products and services in the western United States and services non-residential clients ranging from commercial and industrial entities, healthcare, hospitality, educational campuses and local, State and Federal institutions.

APS uses financial derivatives to hedge price movements in power and natural gas and must comply with Financial Accounting Standard (FAS) 133 to receive beneficial hedge accounting treatment. APS was seeking improved efficiency and better control over its hedge accounting processes through automation.

Commodity XLâ„¢ is the leading multi-market commodity and enterprise risk management solution that meets all of the requirements for supply, trading, marketing, logistics, scheduling, risk management and accounting in today's volatile and complex environment: multi-commodity management, business intelligence and analysis tools for proactive decision-making, real-time integration of physical and financial positions, advanced service-oriented architecture (SOA) and comprehensive enterprise risk management covering the four key areas of corporate financial exposure: operational risk, market/price risk, counterparty credit risk and corporate governance and regulatory compliance risk.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development