Brady plc (BRY.L), the leading supplier of trading and risk management solutions for energy, commodities and recycling, announced today that Nord-Trøndelag Elektrisitetsverk AS (NTE), has selected Brady Energy Trading and Risk Management solution to manage its energy trading, position, risk, and back-office operations.
Nord-Trøndelag Elektrisitetsverk AS (NTE) is an energy utility owned by North Trøndelag County Council in Norway. NTE, founded in 1919, is headquartered in Steinkjer, Norway.
NTE's core business is the production and distribution of renewable electricity, operating a total of 28 hydro power plants and 2 windmill parks. For over 20 years, NTE has been one of the leaders in the development of wind technology along Norway's coast. NTE continues to search for opportunities to develop clean and renewable energy sources to meet the challenges of global climate change.
“Selecting Brady ETRM will provide us with a robust and proven platform as a foundation to manage all of our business activities around energy trading, portfolio and risk management. Brady with its strong heritage in the Nordic power market is a reliable partner for the system implementation and beyond,” said Svein Olav Munkeby at NTE.
Continuing Munkeby added: “We are confident of Brady’s ability to deliver ongoing support for all areas of energy trading, operations, and risk management. Therefore, we are looking forward to a strong partnership with Brady to facilitate our current activities and future requirements in energy trading.
Gavin Lavelle, CEO of Brady plc, commented: “I am delighted that NTE recognises our unparalleled expertise in the Nordic energy market and has chosen to put its trust in Brady. Being selected to assist cornerstone utilities such as NTE in this increasingly significant and complex energy space, endorses our product, market and technical expertise in the area of renewable energy. We are now intent on ensuring that NTE will quickly enjoy the benefits and are delighted that they have selected Brady”.