1st July 2016, London: Brady, the leading supplier of trading and risk management solutions for energy, commodities and recycling, announced today that Nord-Trøndelag Elektrisitetsverk AS (NTE), is now managing its energy trading, position, risk, and back-office operations using Brady Energy Trading and Risk Management solution.
Nord-Trøndelag Elektrisitetsverk AS (NTE) is an energy utility owned by North Trøndelag County Council in Norway. NTE, founded in 1919, is headquartered in Steinkjer, Norway.NTE’s core business is the production and distribution of renewable electricity, operating a total of 28 hydro power plants and 2 windmill parks. For over 20 years, NTE has been one of the leaders in the development of wind technology along Norway’s coast. In its attempt to meet the challenges of global climate change NTE continues to search for opportunities to develop clean and renewable energy sources.
Initially NTE selected Brady for its proven ability working with the European hydro power producers, with a particular focus on the complexities surrounding renewables. Brady was selected for its functional fit in its ability to handle NTE’s business requirements for its energy trading and portfolio management and also for the technology methods deployed enabling a speedy implementation. Following a four month project phase, Brady has successfully implemented a full ETRM system. Through a very hands-on cooperation between NTE and Brady, NTE can now benefit from having all existing production and hedging business modelled within a single platform, affording NTE significant new efficiencies in its financial controlling and risk management capabilities.
“In today’s volatile trading environment, having a robust and proven platform in place that offers visibility, reporting functionality and compliance, is key in managing our risk exposure, positions and overall business operations,” said Svein Olav Munkeby at NTE. “Brady with its strong heritage in the Nordic power market is a reliable partner for the system implementation and beyond”.
Gavin Lavelle, CEO of Brady, commented: “I am delighted that NTE has gone live on the Brady ETRM platform and am confident that it will quickly enjoy the benefits provided by our solution Being selected to assist cornerstone utilities such as NTE in this increasingly significant and complex energy space, endorses our product, market and technical expertise in the area of renewable energy”.
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Notes to Editors:
Brady is the largest European-headquartered provider of trading and risk management software to the global commodity, recycling and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined metals, scrap and secondary metals, soft commodities and agricultural products.
Brady has 30 years’ expertise in the commodity markets with over 400 customers worldwide, who depend on Brady’s software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world’s largest financial institutions, trading companies, miners, refiners and producers, tier one banks and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers. For further information visit: www.bradytechnologies.com
Nord-Trøndelag Elektrisitetsverk AS (NTE) is an energy utility company that is owned by North Trøndelag County Council. The principal business services offered by NTE include: the production, distribution and sale of green and renewable energy; the supply of electrical installations and development and sales of fiber to homes and businesses NTE was founded in 1919 and is headquartered in Steinkjer, Norway. NTE’s goal over the last 90 years has been, and will continue to be, to modernise North Trøndelag.
NTE’s core business is the production and distribution of electric energy, operating a total of 28 hydro power plants and two windmill parks. For over 20 years, NTE has been one of the leaders in the development of wind technology along Norway’s coast. NTE continues to search for opportunities to develop clean and renewable energy sources to meet the challenges of global climate change.
Commodities traded: Power, Certificates of Origion and Green Certificates
For further information visit: www.nte.no