SOURCE: Triple Point Technology

Triple Point Technology

June 11, 2009 09:16 ET

North America's Largest Nuclear Power Facility, Bruce Power, Selects Triple Point for Energy Trading and Risk Management

Canadian Power Company Chooses Triple Point Software for Deep Functional Footprint

WESTPORT, CT and TORONTO--(Marketwire - June 11, 2009) - Triple Point Technology®, the leading global provider of multi-market commodity and enterprise risk management software solutions, announced today Canadian-based Bruce Power has licensed Commodity XL™ to support generation and wholesale and retail marketing operations.

Bruce Power selected Commodity XL for its singular ability to provide end-to-end commodity management, including physical and financial trading, market risk, hedge accounting and counterparty credit risk, on an integrated platform.

Bruce Power is Canada's first private nuclear generating company and the source of nearly 25% of Ontario's electricity, with revenues in excess of $2.0 billion CAD. Founded in 2001 and located in Tiverton, Ontario, the power company operates six reactor units and is in the process of restarting two more.

"Bruce Power required an energy trading and risk management software system that could handle existing business -- as well as planned expansion into other North American markets -- on a single platform," said Richard Horrobin, VP, Power Marketing, Bruce Power. "We reviewed several competing platforms and Triple Point's Commodity XL solution suite offered best-in-class products for the front, middle and back office. With Triple Point's proven track record, we look forward to a successful partnership for years to come."

Bruce Power licensed a total solution suite from Triple Point including Commodity XL™ for Power, Hedge Accounting, Fair Value Disclosure, Credit Risk and Credit Analytics. Additionally, Bruce Power licensed Commodity XL™ Xchange, Management Dashboard and Power Scheduling 'Visual Cockpit'™.

"Triple Point offers the only enterprise solution that manages across trading and risk, hedge accounting and compliance, counterparty credit risk, integrated logistics and business intelligence -- all on a single, real-time platform," said Peter F. Armstrong, president and CEO, Triple Point. "Bruce Power's selection of Triple Point is a strong endorsement of Commodity XL's depth to the active Canadian market. We are proud to add a customer of Bruce Power's caliber to our established client base in the region."

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, emissions, 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

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