JERA Selects Allegro to Manage its Global Trading Operations
SINGAPORE, May 29, 2016 – Allegro Development Corporation, a leading provider of commodity management software, today announced that Japan’s JERA Co., Inc., one of the world’s largest LNG importers, selected Allegro to manage its trading operation and risk management process.
JERA is a joint venture between TEPCO Fuel & Power, Incorporated (TEPCO Fuel & Power) and Chubu Electric Power Co., Inc. (“Chubu Electric”), two of the largest EPCs (Electric Power Company) in Japan. JERA’s goals are to secure the stable supply of energy on an internationally competitive basis and to pursue optimum operational efficiency in fuel procurement, fuel trading and in the running of its thermal power plants.
JERA selected the Allegro solution to achieve the following goals:
- Establish end-to-end integrated trading risk management processes for fuel trading business
- Gain risk management infrastructure for fuel trading
- Flexible componentized architecture to roll-out globally and across multiple energy commodities
“The Allegro solution has been selected with integrated functionalities,” said Kazunori Kasai, Vice President, Planning and Optimization Department, JERA. “Together with Allegro and Allegro’s partner NDFS, we were able to immediately recognise the company’s unique domain expertise, high level of knowledge and superior solution.”
“We are thrilled that JERA has chosen Allegro and that we were able to help the company to meet its business objectives and to increase the respective enterprise values of TEPCO Fuel & Power and Chubu Electric,” commented Jonathan English, Managing Director EMEA and APAC, Allegro. “JERA is a very significant win for Allegro and the catalyst for continued expansion in Japan.”
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, Houston, Jakarta, London, Malaysia, Shanghai, Singapore, Sydney and Zurich, with a global ecosystem of partners.
Tokyo Electric Power Company, Incorporated (“TEPCO”) and Chubu Electric Power Co., Inc. jointly established JERA Co., Inc. on April 30, 2015 to materialise a comprehensive alliance covering the entire energy supply chain, from upstream investments and fuel procurement through power generation in accordance with a Joint Venture Agreement signed between the companies on February 9, 2015. It is the mission of TEPCO and Chubu Electric to ensure the stable supply of energy on an internationally competitive basis. It is indispensable for TEPCO and Chubu Electric to have the ability to compete worldwide in order to fulfill this mission amid increasing global pressure on natural resources. TEPCO and Chubu Electric have therefore agreed to establish JERA in order to secure the stable supply of energy on an internationally competitive basis and also aim to increase the respective enterprise values of the TEPCO and Chubu Electric corporate groups through the business activities of JERA.
For more information, please visit www.allegrodev.com or contact Samantha Johnston at firstname.lastname@example.org or +188.8.131.5249.