Leading Irish energy supplier completes successful Allegro implementation with Sirius Solutions

Source: Allegro Development Corporation

Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced today that Bord Gáis Éireann has successfully completed the implementation of the Allegro 8 platform to manage its power operations in Ireland. The company’s integrated Allegro solution will now provide visibility into all physical and financial transactions for both power and natural gas. Sirius Solutions, an Allegro partner and leading business consulting firm, was responsible for the implementation at Bord Gáis Éireann.

Bord Gáis Éireann utilizes Allegro’s front, middle and back office platform to gain greater visibility into their multi-commodity operations with:

• Simplified trade entry and management for Gas, Power and Carbon
• Valuation and Risk Management capabilities - Mark-to-Market (MtM), Value at Risk (VaR)
• Controls at the group and user levels, providing greater monitoring and limiting of trader activities
• Robust reporting and auditability that enables regulatory compliance
• Accurate settlement

Sirius Solutions leveraged Allegro’s Service Oriented Architecture (SOA) to develop real-time extensions, interfaces, and applications which fully automate key business processes and extend the Allegro platform to meet specific Bord Gáis Éireann requirements:

• ½ hourly granularity power for 30 year wind farms and demand curves
• Fully automated Weighted Average Cost of Gas (WACOG)
• Real time gas portfolio positioning with automated default/imbalance trades
• One button Risk and FX reporting: P&L, Counterparty Limits, VaR, MtM, Volumetric Positions
• Real time market critical interfaces from leading market providers to minimize operational risk

Dave Webb – Trading Systems Manager, Bord Gáis Éireann
“We needed a fully functional and integrated trading and risk management solution to optimize and automate where possible our manual, spreadsheet-based business processes and to improve real-time controls and reporting. Our objective was to deliver a solution that would maximize operational efficiency across the Trading business, while at the same time provide an infrastructure that would minimize and control levels of operational risk. The flexibility and extensibility of the Allegro product allows Bord Gáis Éireann to effectively and efficiently manage our various cross commodity business processes, including those more unique aspects of our operations. Sirius brought deep functional, technical and market expertise to the implementation, and their customer centric approach ensured that our objective was met through a quality end delivery.”

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