SettlementTracker provides a comprehensive enterprise-wide settlement and accounting solution for complex energy contracts. SettlementTracker provides a straight-through processing platform that automates meter data and billing determinants, settlement and automatic accounting entries. SettlementTracker is powered by Financial and Regulatory Risk Management System (FARRMS), the leading integrated platform for mitigating financial and regulatory risks.
Minneapolis-based Xcel Energy, a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states, is a leader in environmental stewardship and has a diverse complex energy portfolio. Xcel Energy will use SettlementTracker to capture, settle and account all wholesale electric sales contracts. SettlementTracker provides a single application in which settlement and accounting is accomplished.
âWe are pleased that our requirements for managing complex wholesale billing and accounting were met with this software package.â said Michael Carlson, Xcel Energy chief information officer and vice president of Business Systems.