Brady plc (BRY.L), the leading global provider of trading, risk management and settlement solutions to the energy, metals and commodities sectors, announced today that BKK AS, a Norwegian power production company, has implemented Brady's ContractClearer and Scenario Manager solutions to support its operations, production planning and risk management.
BKK AS is one of the largest hydro-power producers in Norway and is also engaged in the wholesale and transmission of electrical power in Norway. It owns and operates 30 hydroelectric power plants serving approximately 180,000 customers. BKK was founded in 1920 and is headquartered in Bergen, Norway. The company has implemented the latest generation of Brady Energy's ETRM product suite to support its power production business. The implementation includes Brady's ETRM as well as the Brady Energy ContractClearer and Brady Energy Scenario Manager.
Brady Energy’s ContractClearer offers deal capture and increased workflow efficiency on exchange- and broker-executed transactions. Being integrated with both Nasdaq OMX and Trayport, the ContractClearer allows efficient, real-time and secure deal entry into Brady Energy’s ETRM solution.
Brady Energy’s Scenario Manager performs scenario analysis and profit evaluation for an array of different pricing and production scenarios. This functionality enables energy producers to evaluate and perform stress testing of both planned and unplanned production scenarios. The module offers state of the art scenario analysis with the primary focus weighted towards academic and practical financial theory.
A BKK spokesperson said: “We have been using solutions from Brady Energy since 1999, and are now increasing our solution footprint by implementing ContractClearer and Scenario Manager. Brady has succeeded in delivering solutions which seamlessly integrate with the required exchanges and provide us with fully reliable time and labour-saving solutions which assist us in running an efficient and competitive business.”
Gavin Lavelle, CEO of Brady commented: “We achieved and maintain our leading position in the ECTRM space by working closely with customers and understanding their business needs and strategy. We are delighted at the continued confidence shown by BKK in extending its reliance on Brady to support its production, operational and risk management activities. These latest solutions are proving to be integral to the needs of energy providers and I am convinced that they will prove to be highly productive for BKK as well as ultimately benefiting our wider client base.”