“Allegro demonstrated the ability to meet these needs – within a challenging time line – with their agile approach to implementation which offers phased deployment of the software.”

As Australia’s leading renewable energy business, Hydro Tasmania utilises water and accesses wind power to generate renewable energy. It trades electricity and environmental products, including Renewable Energy Certificates (RECs) in the Australian market. Hydro Tasmania operates 30 hydropower stations, 50 major dams, and two diesel power stations. It also has equity interests in two wind farms with a third under development. In 2008, the company became a vertically integrated energy business with the acquisition of energy retailer Momentum Energy.

“Largely driven by our expansion into the mainland retail energy market, we needed a scalable software solution to support enterprise-wide activities, from deal capture to settlement. These include wholesale and retail pricing, position reporting, and tools to manage risk,” said Lance Balcombe, Hydro Tasmania’s Chief Finance Officer. “Allegro demonstrated the ability to meet these needs – within a challenging time line – with their agile approach to implementation which offers phased deployment of the software.”

To meet the challenges of Hydro Tasmania’s growing portfolio, Allegro 8 will provide the following business benefits:

• Mitigation of market and price risk with the ability to calculate intraday risk metrics and perform simulation across multiple portfolios. This includes the ability to easily capture and value options, swaps, swaptions and other hedge products
• Enhanced compliance monitoring
• Reduced counterparty credit risk with reporting and visibility into credit requests, ratings, limit monitoring, and availability
• Enhanced settlement processes with automated procedures to calculate prices, fees, and terms, and generate invoices, statements and accruals
• Improved staff efficiency with the elimination of manual processes and the ability to capture and confirm all deal types and attributes, including environmental commodities
• Improved timeliness, accuracy and availability of business data by replacing disparate systems with automated workflows and seamless integration with market data providers

About Allegro

Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 28 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities. Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners. www.allegrodev.com