RiskTech Forum

The Energy Authority Selects Allegro’s CTRM

Posted: 31 August 2017  |  Source: Allegro Development

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.”