Hydro Energy Goes Live

Hydro Energy Goes Live on Allegro Commodity Management

Leading Global Aluminium Company and Second Largest Hydroelectric Power Producer in Norway

LONDON, February 16, 2016 – Allegro Development Corporation, a leading provider of commodity management software, today announced that Hydro Energy is now managing their physical and financial power positions of their European business on Allegro.

Hydro is a global aluminium company with production, sales and trading activities throughout the value chain, from bauxite, alumina and energy generation to the production of primary aluminium and rolled products as well as recycling. Based in Norway, the company has 13,000 employees involved in activities in more than 50 countries on all continents. Hydro is Norway’s second-largest producer of hydroelectric power with approximately 10 terawatt (TWh) of yearly production.

Hydro Energy initially purchased Allegro to replace an existing solution with an integrated platform to communicate across business lines, geographies and departments for a holistic view of the business. Allegro was selected based on its functional fit and deployment methodology, which allowed for rapid implementation; the project went live in less than 3 months.

Leveraging Allegro, Hydro Energy has capability to:

  • Enforce tighter controls and ensure compliance with regulatory mandates;
  • Operate more efficiently through automated processes, eliminating manual data entry;
  • Hedge their open positions for increased margins;
  • Move with the evolving business environment to accommodate growth; and
  • View their entire portfolio from one, seamlessly integrated system of record.

 

“In today’s business environment, risk management is crucial for providing decision support, managing compliance and the overall business,” said Preben Richter, Head of Risk Management, Hydro Energy. “With Allegro, we selected a modern commodities management system that provides the visibility, necessary functionality and adaptability to move into the future with confidence.”

About Hydro

Hydro is a global aluminium company with production, sales and trading activities throughout the value chain, from bauxite, alumina and energy generation to the production of primary aluminium and rolled products as well as recycling. Based in Norway, the company has 13,000 employees involved in activities in more than 50 countries on all continents. Hydro is Norway’s second-largest producer of hydroelectric power with approximately 10 terawatt (TWh) of yearly production.

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