TEA Selects Allegro'S CTRM to Manage Power and Gas Trading Portfolio
Energy portfolio management leader chooses Allegro's software to streamline efficiencies and reduce risks
DALLAS, August 21, 2017 – Allegro Development Corp., a global leader in energy trading and risk management software, announced today that its platform has been chosen by The Energy Authority (TEA), a U.S. energy trading and advisory company, to serve as the firm’s energy trading and risk management system.
Energy trading and risk management software is a critical tool for trade execution, portfolio management and other core services TEA delivers to its public power utility clients across the U.S. Last year, TEA identified the need for a more comprehensive, streamlined trading and real-time credit exposure management solution, as well as a fully-integrated system that allows for superior operational risk mitigation.
After a rigorous evaluation, TEA determined Allegro’s platform was the best fit for achieving its business objectives while staying ahead of U.S. power and gas market requirements, which presented a significant advantage over similar software tools available. As a leading energy commodity trading and risk management software provider in the U.S. and globally, Allegro will not only provide TEA with greater control and transparency over its portfolio, but will also lend industry technology expertise and serve as a collaborative partner.
Frank Brienzi, CEO, Allegro Development:
“Allegro provides decades of valuable expertise and knowledge in helping businesses manage their energy operations. The Energy Authority determined that our software was the best solution for its business due to our U.S. power and gas market track record, as well as our commitment to transparency and innovation. We look forward to our continued collaboration with TEA throughout implementation and beyond.”
Joanie Teofilo, President & CEO, The Energy Authority:
“The complexity of our business, combined with the fact that we needed a product closely aligned with our strategic goals, led us to the decision to choose Allegro’s trading platform. Allegro’s expertise in the U.S. power and gas market, along with its robust trading and risk management solution, made this the natural choice for TEA.”
The Energy Authority is a public power-owned, non-profit corporation with offices in Jacksonville, Florida, and Bellevue, Washington. As a national portfolio management company, TEA evaluates challenges, manages risks and executes solutions to help clients maximize the value of their assets and meet their goals in a cost-effective manner. TEA provides public power utilities with access to advanced resources and technology systems so they can respond competitively in the changing energy markets. For more information on TEA, visit www.teainc.org.
Allegro is a global leader in commodity trading and risk management software for companies who buy, sell, produce or consumer commodities. For over 30 years, Allegro has delivered position visibility, risk management, comprehensive controls and regulatory compliance through its forward-compatible solutions. Headquartered in Dallas, Allegro has offices in Calgary, Dubai, Houston, Jakarta, London, Singapore and Zurich, along with a global partner network. For more information on Allegro, visit www.allegrodev.com.