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E-mailDallas, 14 December 2010
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
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National Grid is an international energy delivery company. In the U.S., National Grid delivers electricity to approximately 3.3 million customers in Massachusetts, New Hampshire, New York and Rhode Island, and manages the electricity network on Long Island under an agreement with the Long Island Power Authority (LIPA). It is the largest distributor of natural gas in the northeastern U.S., serving approximately 3.4 million customers in Massachusetts, New Hampshire, New York and Rhode Island. National Grid also owns over 4,000 megawatts of contracted electricity generation that provides power to over one million LIPA customers.
