Triple Point Technology, a supplier of cross-industry software platforms for the supply, trading, marketing and movement of commodities, has announced that BG Energy Merchants, a wholly owned subsidiary of BG Group, has selected Triple Point Commodity XL for power and gas.
Triple Point Commodity XL allows participants in global physical and derivative commodity markets to gain unprecedented control over their trading operations. It enables straight-through processing from pricing and trade execution to physical scheduling and financial settlement. The system’s risk management and modeling functions enable clients to monitor, measure and control all aspects of risk in a real-time environment, thereby maximizing returns from commodity portfolios.
BG Energy Merchants (BGEM) is using Triple Point’s sophisticated risk analytics to model its gas-fired power plants on the spark spread the net margin between the wholesale market price of power and the cost involved in generating it, including natural gas inputs. This gives BGEM executives and other decision-makers the real-time business intelligence required to optimize profitability from generation assets.
Matt Schatzman, president of BG Energy Merchants (BGEM), said: Rapid deployment and ease of integration were very important to BGEM. Triple Point’s advanced, open architecture gives us the flexibility and scalability we needed to enter the northeast power markets now, while giving us plenty of room for future growth.