SOURCE: Triple Point

Triple Point

September 09, 2010 04:30 ET

Triple Point Announces Commodity XL for European Power 7.0

Follows Recent Release of European Gas to Deliver Leading Gas and Power Solution for the UK and Continental European Markets

LONDON--(Marketwire - September 9, 2010) -  Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today general availability of Commodity XL for European Power 7.0™. Commodity XL for European Power 7.0 provides an unparalleled solution across trading, pricing, position management, scheduling/nomination, transmission, confirmation matching, and settlement for UK and Continental European power markets. The European power solution follows several significant announcements by Triple Point -- the release of Commodity XL for European Gas 7.0™; the acquisition of Enerbility; and the launch of Commodity XL for Emissions™ -- that further its leadership in the European energy markets.

The UK and Continental European power markets are in a state of change driven by liberalisation of markets, environmental issues, and potential new members to the European Union. In addition, the different markets are at various stages of maturity. A solution must have the ability to support the current intricacies and nuances of each individual market, and it also requires the technological robustness to meet the growing and changing needs of the European markets.

"The European power markets have unique, complex requirements and are in an interesting period of dynamic change. In addition to sophisticated software, a solution vendor must have a team that is deeply immersed in the power markets," said Roger Walton, VP, European field operations, Triple Point. "Triple Point has always prided itself in having a unique understanding of the UK and Continental European markets. And with the recent acquisition of Enerbility, the pioneer in using EFET standards to automate back-office processes in the power industry, Triple Point has added key staff that is engrossed in European energy markets."

Commodity XL for European Power 7.0 delivers unparalleled functionality. The solution is built on Triple Point's next-generation technology platform and leverages Commodity XL's base functionality for front, middle, and back office, while augmenting it with localized functionality for the UK and Continental European power markets:

  • Alignment of trading, balancing, scheduling, and settlement processes for each country/market rules combination

  • Power trading for Continental European markets with pricing and positions reported in all the main market data granularities

  • Power balancing for Continental European markets at hourly and 15-minute levels, with hourly trade decomposition into 15-minute intervals

  • UK power balancing, contract notifications, and scheduling -- enhanced position management and logistics for NETA/BETTA support

  • Calculation of imbalance settlement (forecast and actual) for UK NETA/BETTA and Continental European Balancing Circles

  • Advanced conversion models of fuel usage and emissions output from generation -- calculate emissions liabilities under fossil-fuel burn

  • Calculate emissions credits due from "green" generation

  • Production and matching of electronic confirmation documentation required under EFET Standards

"Triple Point's European energy clients include Electrabel, RWE, Alpiq AG, BKW FMB, E.ON, Statkraft Markets GmbH, Vattenfall Energy Trading Netherlands NV (formerly N.V. Nuon), Verbund APT, Verbund Austrian Power Trading AG, EDF, Electrabel, and Scottish Power," said Mike Ravo, VP, industry solutions, Triple Point. "Commodity XL for European Power 7.0 incorporates much of the local market knowledge we gain in working with these companies." 

In the last 12 months Triple Point has expanded its European presence with new R&D and support centers in Geneva and Vienna and professional staff growth of more than 75%. Leading analyst firm CommodityPoint has noted Triple Point's European success: "Triple Point has been remarkably successful at establishing itself as among the most widely recognized and successful commodity trading and risk management software vendors in Europe."

About Triple Point Technology
Triple Point is the leading global provider of innovative software solutions to efficiently and profitably manage commodities and enterprise risk. Triple Point's growing, loyal customer base of over 260 companies represent all industries with exposure to energy and raw materials including oil and gas, coal, metals, agriculture, transportation, shipping, consumer products (CP), discrete manufacturers, and big box retailers. The company was named a 'Leader' in Gartner's ETRM Magic Quadrant for its completeness of vision and ability to execute. Triple Point offers the only real-time solution to manage market/price, counterparty credit, operational, and regulatory risk on a tightly integrated platform. Founded in 1993 and headquartered in Westport, CT, USA, Triple Point employs over 600 people in 11 offices and support centers around the globe.

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