Fortum Chooses Allegro's ETRM Solution to Manage International Portfolio
Finnish energy company selects Allegro’s ETRM system to manage its power and gas operations
LONDON, Feb. 27, 2018 – Allegro Development Corporation, a global leader in commodity trading and risk management software solutions, announced today that Finnish energy company, Fortum, has selected Allegro’s cloud-compatible energy trading and risk management (ETRM) system, Allegro Horizon, to replace its prior system in managing its Nordic, Central European and Polish power and gas operations.
In recent years, Fortum, a prominent clean-energy company began the search for an ETRM solution to support its complex multi-commodity and multi-market requirements. These requirements include the ability to manage all commodities, scalability and the ability to respond quickly to new business opportunities.
After an extensive vendor analysis, surveying both local and international solutions, Fortum chose Allegro’s platform. Allegro’s proven solution provides the ability to trade in a decentralized way out of multiple regions in day-ahead and intraday markets with quick portfolio valuations.
Jonathan English, Sr. Vice President, Global Sales, Allegro Development:
“We are thrilled to announce that Fortum has chosen Allegro Horizon to manage its commodity trading and risk management portfolio. The Allegro team looks forward to completing yet another successful Nordic customer implementation.”
Simon-Erik Ollus, Vice-President, Asset Optimisation & Trading, Fortum:
“Our financial trading operations are expanding, and we saw a need to update our backbone ETRM system to take our trading operations to the next level. The ETRM landscape is vast and competitive and we performed a thorough due diligence to ensure the chosen solution would meet our requirements. We are confident in the solution offered by Allegro and look forward to starting the collaboration with Allegro.”
Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 9,000 professionals in the Nordic and Baltic countries, Russia, Poland and India. In 2017, our sales were EUR 4.5 billion. Fortum’s share is listed on Nasdaq Helsinki. www.fortum.com
About Allegro Development
Allegro Development Corp. is a global leader in commodity trading and risk management software for power and gas utilities, crude oil refiners, chemical manufacturers, oil and gas producers, agriculture companies, traders, and commodity consumers. Allegro’s software is built to provide users with position visibility, risk management, comprehensive controls, and regulatory compliance. With more than three decades of industry experience, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices while managing complex logistics associated with physical commodities.
Headquartered in Dallas, Allegro also has offices in London, Singapore, Calgary, Dubai, Houston, Jakarta and Zurich, along with a global network of partners. For additional information about Allegro and its capabilities, visit our home page at www.allegrodev.com.