Leading North American Utility to Manage Risk with Allegro 8
Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced today that Salt River Project Agricultural Improvement and Power District (SRP) has chosen the Allegro 8 platform to support their energy risk management organization.
SRP provides electricity to more than 950,000 customers in the greater-Phoenix metropolitan area. It operates or participates in 12 major power plants and numerous other generating stations, including coal, nuclear, natural gas and renewable sources, such as hydroelectric, solar, wind and geothermal.
SRP will replace a legacy system used for commodity risk analysis, reporting, tracking counterparty exposure, and contract management with one, integrated solution across their business. Leveraging Allegro’s industry leading, component based solutions, SRP’s risk organization will gain:
- An efficient trade capture and confirmation solution that will increase team productivity, improve data integrity, and accurately capture a wide array of deal types to support both current and future activity
- A sophisticated enterprise energy risk solution which will improve position analysis, provide market price exposure tools, allow portfolio stress testing and accurately capture enterprise VAR metrics
- An integrated solution to better manage counterparty exposure
- A solution that supports regulatory compliance requirements with advanced audit reporting and integrated workflow capabilities
“We completed a thorough analysis of the marketplace for energy risk solutions and selected Allegro to meet our objectives,” said Carole Franklin, SRP Energy Risk Management Group. “Allegro’s strong functional fit, clear focus, ease of use, flexible architecture, and integration to existing systems were key strengths that led to our decision.”