Finnish energy company, Fortum, selects Allegro’s energy trading and risk management (ETRM) system to manage its Nordic, Central European, and Polish power and gas operations
Allegro Development Corporation, a global leader in commodity trading and risk management software solutions, announced today that Finnish energy company, Fortum, has selected Allegro’s cloud-compatible energy trading and risk management (ETRM) system, Allegro Horizon, to replace its prior system in managing its Nordic, Central European and Polish power and gas operations.
In recent years, Fortum, a prominent clean-energy company began the search for an ETRM solution to support its complex multi-commodity and multi-market requirements. These requirements include the ability to manage all commodities, scalability and the ability to respond quickly to new business opportunities.
After an extensive vendor analysis, surveying both local and international solutions, Fortum chose Allegro’s platform. Allegro’s proven solution provides the ability to trade in a decentralized way out of multiple regions in day-ahead and intraday markets with quick portfolio valuations.
Jonathan English, Sr. Vice President, Global Sales, Allegro Development:
“We are thrilled to announce that Fortum has chosen Allegro Horizon to manage its commodity trading and risk management portfolio. The Allegro team looks forward to completing yet another successful Nordic customer implementation.”
Simon-Erik Ollus, Vice-President, Asset Optimisation& Trading, Fortum:
“Our financial trading operations are expanding, and we saw a need to update our backbone ETRM system to take our trading operations to the next level. The ETRM landscape is vast and competitive and we performed a thorough due diligence to ensure the chosen solution would meet our requirements. We are confident in the solution offered by Allegro and look forward to starting the collaboration with Allegro.”