Tampa Electric Goes Live on Allegro Commodity Management
Leading Energy Company Extends Allegro 8 Solution Footprint to Automate Power Marketing
DALLAS, TX, October 13, 2015 – Allegro Commodity Management, a leading provider of commodity trading and risk management (CTRM) software, announced today that Tampa Electric is live on Allegro 8 for power, completing the second phase of its project to consolidate multi-commodity transaction lifecycle management for its regulated electric and gas utility operations.
Tampa Electric is part of TECO Energy, a utility holding company headquartered in Tampa, Florida and traded on the New York Stock Exchange (TE) as part of the S&P 500 index. TECO Energy has three core businesses, including Tampa Electric, Peoples Gas System and New Mexico Gas Co. Tampa Electric provides electricity to more than 715,000 customers in West Central Florida; Peoples Gas System distributes natural gas to more than 360,000 customers across Florida; and New Mexico Gas Co. distributes natural gas to more than 515,000 customers across New Mexico.
Tampa Electric selected Allegro in Q4 of 2013 to manage natural gas, power and solid fuels in an effort to streamline business processes managed in legacy, homegrown systems and spreadsheets, with the goal of consolidating position, credit and risk management. Allegro automates the flow of data across departments and lines of business for a comprehensive, 360° view of a portfolio.
“Our project team worked closely with Tampa Electric to deliver the second phase three months ahead of schedule, effectively accelerating their ROI timetable,” said Frank Brienzi, Allegro CEO.
The project was phased in by line of business, with the first phase being natural gas purchasing. Tampa Electric went live on Allegro for natural gas in November of 2014. This announcement marks the completion of the second phase of the implementation, where the company deployed Allegro’s power solution, layered on top of the natural gas business, allowing greater visibility into the business. The third and final phase of the project will further extend the Allegro solution footprint to include solid fuels business operations.
For more information about Allegro commodity management software, visit allegrodev.com.
Allegro develops and markets integrated commodity management software providing position visibility, risk management, comprehensive controls and regulatory compliance. Allegro customers manage commodities from production to consumption, including oil and gas production, petroleum refining, agriculture and forestry, mining, chemicals, metals, food, transportation, commercial and utility sectors. Allegro software is tailored to the specific needs of each commodity, with a comprehensive set of features and functions to support profitable decisions. Allegro is headquartered in Dallas, with offices in Calgary, Dubai, Houston, Jakarta, London, Kuala Lumpur, Singapore, Sydney and Zurich.
For more information, please visit www.allegrodev.com or contact Samantha Johnston at email@example.com or +188.8.131.5249.