Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced today that National Grid, an international electric and gas company, has selected the Allegro 8 platform to manage its power, natural gas, liquefied natural gas (LNG), natural gas liquids (NGL) and renewables trading operations in the United States.
National Grid needed a platform that would support all aspects of their multi-commodity business, including deal capture, procurement, scheduling, risk and credit management, reporting and invoicing.
“Our business relies on information from many sources, and we need to easily be able to monitor risk, credit, and trading across our multi-commodity enterprise,” said Lorraine Lynch, National Grid Vice President and Treasurer. “We look forward to working with Allegro, and the flexibility of its architecture to meet our requirements.”
As a system of record, Allegro 8 will further National Grid’s ability to:
* Expand business processes, reduce manual methods and the use of spreadsheets for business activities
* Manage information on market risk, price risk and counterparty credit risk
* Conduct reporting and analysis, including market and price exposure.
[mappress]
Source: Allegro Development Corporation, December 14, 2010;