Presse Economique / Energies
WESTPORT, Conn.--(BUSINESS WIRE)--June 29, 2005--Triple Point Technology, principal fournisseur de plates-formes logicielles transverses permettant la fourniture, la vente, la mise sur le marché et la circulation des biens, annonce aujourd'hui que Commerce Energy Group (AMEX: EGR) a choisi la solution logicielle de prochaine génération Commodity XL(TM) développée par Triple Point pour assurer la gestion des risques, des opérations relatives à ses ressources physiques et financières et des opérations de facturation et de règlement pour les marchés de l'énergie et du gaz naturel en Amérique du Nord.
Commerce Energy Selects Triple Point Technology for Power and Gas Supply and Risk Management; Retailer Leads Way by Instituting Advanced Risk Management System
Business Editors/Energy Editors
WESTPORT, Conn.--(BUSINESS WIRE)--June 29, 2005--Triple Point Technology, the leading global supplier of cross-industry software platforms for the supply, trading, marketing and movement of commodities, announced today that Commerce Energy Group (AMEX: EGR) will deploy Triple Point's Commodity XL(TM) next-generation software solution to manage its physical and financial supply transactions, risk management, and counter party invoicing and settlement for power and natural gas markets in North America
Commerce Energy, the largest non-utility retail energy marketer in the U.S, will deploy Triple Point Commodity XL to manage power and gas trade capture, deal confirmation processing, position management and sophisticated risk reporting and analysis.
The solution will help Commerce Energy achieve both Sarbanes Oxley 404 compliance and the ability to offer customers additional pricing flexibility.
Triple Point Commodity XL does this by enabling true straight-through processing from front-to-back office, providing a single real-time view of the company's physical and financial position and measures exposure across all power and gas markets
"The Triple Point system selection is a continuation of our new technology strategy in which we are moving away from in house built systems and toward utilizing best in class industry software," said Peter Weigand, President of Commerce Energy Group.
"We found that Triple Point's scalable architecture and advanced power and gas functionality were the best fit for our requirements." Once deployed, Triple Point Commodity XL will streamline operations by seamlessly interfacing with Commerce Energy's retail systems, general ledger and market pricing data applications
"This agreement with a rapidly growing energy marketer validates our longstanding commitment to retail energy providers," said Peter Armstrong, president of Triple Point Technology.
"We've invested heavily to ensure our solution has unique best-of-breed functionality for each commodity market, but is built on a common platform to streamline back-office activity and aggregate risk management, position reporting, and counter-party risk." About Triple Point Commodity XL(TM) for Power Triple Point Commodity XL for Power is a next-generation, front-to-back office power trading and risk management system for generators, traders, marketers and other participants in global physical and derivative power markets.
Commodity XL for Power offers clients unprecedented control over their global power trading operations, enabling straight-through processing from pricing and trade capture to physical scheduling, generation dispatch and financial settlement.
The solution's position and risk management functions enable clients to measure, monitor and control all aspects of power market risk (price, weather, load, volumetric, outage rates, credit, delivery, etc.) with down-to-the-minute granularity in a real-time environment, thereby maximizing returns from load, generation and utilization portfolios
About Triple Point Commodity XL(TM) for Gas
Triple Point Commodity XL for Gas handles all the complexities of physical and financial trading, risk management, scheduling and logistics on a single platform for participants in global natural gas markets, including trading and marketing firms, pipelines, producers, large consumers, wholesalers, and LDCs (local distribution companies)
It supports all physical and financial gas trading activity including swaps, options, derivatives, futures, physical forwards, structured deals and full requirement supply contracts.
It delivers real-time hedge position management, trader profitability reporting, deal valuation and advanced risk analysis
The system automates the confirmation and nomination processes, the scheduling and physical movement of natural gas to fulfill supply and distribution obligations, the financial settlement of physical and financial transactions, and the forecast and management of cash
About Commerce Energy Group, Inc
Commerce Energy, Inc. is a wholly owned subsidiary of Commerce Energy Group, Inc. (AMEX:EGR), a holding company doing business through its three wholly-owned operating subsidiaries, Commerce Energy, Inc., Skipping Stone Inc. and Utilihost, Inc. Commerce Energy is a FERC licensed unregulated retail marketer of natural gas and electricity to homeowners, commercial and industrial consumers, and institutional customers in nine states.
Skipping Stone is an energy consulting firm serving utilities, pipelines, merchant trading and technology companies.
Utilihost provides outsourced energy transaction and data management services for municipalities, government facilities, power generators and energy merchant customers.
For more information, visit www.commerceenergy.com
About Triple Point Technology Inc
Triple Point Technology is the leader in trading and risk management solutions for commodities including power, oil, gas, coal, metals, agricultural products, and freight.
Triple Point Commodity XL(TM) profitably manages the complex, ever-changing requirements of physical and financial markets.
Commodity XL integrates front-to-back office and delivers best-of-breed functionality for the supply, trading, marketing and movement of commodities on a single next-generation platform.
Triple Point's real-time system helps customers of all sizes streamline trade processing, reduce transaction costs, maximize supply chain efficiencies, precisely measure and manage market risk, evaluate performance, and ensure regulatory and accounting compliance
Named "Software House of the Year" by Energy Risk, Triple Point's award winning solutions are used by more than 25 percent of both Global 500 commodity trading companies and Global 500 energy companies, including Amerada Hess, HETCO, Louis Dreyfus, BP, Morgan Stanley, Preem, Tesoro, Valero, OMV, Bharat Petroleum, ENOC, Petronas, Oxy, Cinergy, Marathon Oil, Noble Group, Commerce Energy, ITOCHU, General Maritime, and Glencore.
Founded in 1993 and headquartered in Westport, Connecticut, USA, Triple Point serves clients in Asia, Africa, Australia, Europe, North America and South America from its five development and support centers strategically located around the world.
More information is available at www.tpt.com
Triple Point Technology, Inc
Diane Kingsbury, +1-203-291-7979