SOURCE: Triple Point

Triple Point

March 03, 2009 09:00 ET

The Energy Authority Selects Triple Point for Energy Trading, Scheduling and Counterparty Credit Risk Management

Triple Point Chosen for Its Multi-Commodity Depth Across Oil, Power and Gas

WESTPORT, CT--(Marketwire - March 3, 2009) - Triple Point Technology®, the leading global provider of multi-market commodity and enterprise risk management software solutions, announced today that The Energy Authority has licensed Commodity XL™ to manage its energy commodity trading, marketing, scheduling and counterparty credit risk processes.

The Energy Authority (TEA) is the nation's leader in public power energy trading and risk management. It is wholly-owned and directed by six Public Power Members and has contractual relationships with more than 30 electric-generating municipal Partners. The corporation operates in both bilateral and regulated power markets, with approximately 25,000 MW of generation under management.

TEA has grown dramatically in commodities traded, trade volumes, transaction complexity, number of customers and geographic regions. To manage current growth and planned expansion into more products, services and markets, the company required a more robust system to manage all physical and financial power and gas trading activities.

"Our company has experienced tremendous growth and required a commodity management system that could continue to support current trading activities, as well as planned expansion," said R.T. "Bob" Dyer, P.E., President and CEO, TEA. "After a rigorous review of competing systems, Triple Point surfaced as the clear and winning provider of a complete, end-to-end solution capable of handling all of our current and future requirements."

TEA selected Triple Point's Commodity XL to improve efficiency of trade processing, risk control and invoicing. Commodity XL will help reduce financial and operational risk and provide better access to information for decision support and reporting. Additionally, the solution provides TEA with comprehensive credit risk tools to manage credit exposure, collateral management, counterparty evaluation and internal limit setting.

"Triple Point has always provided the broadest multi-commodity solution," said Mike Ravo, VP, industry solutions, Triple Point. "With the recent launch of modules that support credit risk management and regulatory compliance, Triple Point also delivers the most comprehensive enterprise risk management solution available."

TEA licensed the following Commodity XL modules: Commodity XL for Power™, Commodity XL for Gas™, Commodity XL for Oil™, Power Scheduling 'Visual Cockpit'™, Gas Scheduling 'Visual Cockpit'™, Commodity XL for Credit Risk™, Credit Risk Analytics™ and Commodity XL Xchange™.

About Triple Point Technology

Triple Point Technology® is the leading global provider of multi-market commodity and enterprise risk management software solutions. Triple Point's Commodity XL profitably integrates physical and financial markets on a real-time, service-oriented architecture (SOA) platform for commodities including power, oil, gas, coal, base and precious metals, agricultural products, biofuels and freight. In addition to Triple Point's award-winning commodity and energy trading software being used by more than 25 percent of both Global 500 commodity trading and Global 500 energy companies, other organizations with large raw material and energy exposure, including consumer products (CP), discrete manufacturers and big box retailers, are quickly adopting the Triple Point solution. Named to the Deloitte Technology Fast 50 for ten straight years, Triple Point added to its record-breaking organic growth in 2008 with the acquisitions of INSSINC, the leading provider of hedge accounting and fair value level software and ROME Corporation, the industry leader in credit risk software solutions. Triple Point, headquartered in Westport, Connecticut, USA, was founded in 1993 and serves clients from nine development and support centers located around the globe. More information is available at www.tpt.com.

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