The UK’s largest purchaser of energy generated by the independent sector to manage physical and financial trading and risk management activities with Allegro
Allegro Development Corporation, a leading provider of commodity trading and risk management (CTRM) software, has announced that SmartestEnergy has selected the Allegro solution to manage its power, gas, emissions and renewables portfolios.
Founded in 2001, SmartestEnergy has grown to become Great Britain’s leading purchaser of energy generated by the independent sector. SmartestEnergy also supplies electricity to sustainably-minded industrial and commercial organisations, playing an important role in providing choice and flexibility in a market traditionally dominated by major energy producers and suppliers.
SmartestEnergy selected Allegro to support their growth and help optimise and automate business processes across Trading, Trade Control, Risk Management, Regulatory Compliance, Finance & Back Office and IT Operations.
Allegro will support SmartestEnergy with the following benefits:
- Ability to quickly and accurately capture power, gas and emission trades and to manage those trades including complex pricing, confirmations, settlement and invoicing;
- Streamlined scheduling activities with customizable reports, integration for TSO nomination and notification formats;
- Optimal decision-making with Mark-to-Market (MtM), Profit & Loss (P&L), advanced attribution/industry cost and market exposure reporting;
- Ability to mitigate credit risk with collateral management, counterparty exposure monitoring and advanced credit analytics; and
- Extensibility to support integration and future expansion into new markets and product offerings;
- The scalability and technology required to accommodate future growth.
James Clarke, Vice President - SmartestEnergy: “SmartestEnergy needs a robust, flexible and proven platform as a foundation to manage all of our business activities in respect of trading and risk management, as well as a reliable partner through system implementation and beyond. We expect Allegro to deliver strong support for all areas of energy trading, trading operations, and risk management. We look forward to a partnership to consolidate and enhance our current CTRM activities across wholesale, generation and supply, and to address changing business and market conditions, customer needs, and regulatory requirements. Allegro will provide a single platform for us to monitor and manage our exposure across our entire portfolio.”
Jonathan English, Managing Director EMEA & APAC – Allegro Development: “Allegro ‘s complete approach to connecting the front, middle and back office for SmartestEnergy has a variety of benefits – improved position visibility, stronger risk management, reduced cost of operating multiple systems and increasing business agility in response to changing market conditions. We’re proud they have selected Allegro and our 30+ years of experience and innovation to support their growth strategy.”