Triple Point Provides Germany’s Biggest Power Producer, RWE, with IAS 39 Hedge Accounting Solution

LONDON--(BUSINESS WIRE)--Triple Point Technology^®, the leading global provider of multi-market commodity and enterprise risk management software solutions, announced today that RWE, the biggest power producer in Germany, has chosen Triple Point’s Commodity XL for Hedge Accounting™ to assist in ensuring compliance with IAS 39 and help to protect against earnings volatility.

“Our real-time hedge accounting system enhances hedging capability, reduces earnings volatility, alleviates compliance risk and streamlines regulatory disclosure.”

RWE joins the impressive ranks of Unit Corporation (NYSE: UNT), Beryl Oil & Gas and Enterprise Systems (NYSE: EPD) in its selection of Triple Point’s dynamic hedge accounting solution. From market pricing and effectiveness testing to documentation and flexible report generation, the Triple Point solution allows organizations to alleviate compliance risk, optimize hedging strategies, streamline regulatory reporting and reduce earnings volatility.

Headquartered in Essen, Germany, with large operations in the UK, RWE recorded £42.5 billion in revenue for fiscal year 2007. One of Europe’s five largest electricity and gas companies, RWE’s 63,500 employees supply 20 million customers with electricity and 10 million clients with gas. Active in the generation, transmission, sale and trading of electricity and gas, RWE continues to expand its position in Central and South-Eastern Europe.

RWE uses financial derivatives to hedge price movements in power, natural gas and coal and must comply with International Accounting Standards (IAS) 39 to receive beneficial hedge accounting treatment. A subsidiary of RWE, RWE Supply and Trading GmbH, sought hedge accounting software to ensure continued and effective control over its hedge accounting procedures given the extensive and detailed requirements presented by IAS 39.

“RWE considered several platforms to best address our hedge accounting, reporting and IAS 39 compliance requirements,” said Mick Axtell, head of finance UK, RWE Supply & Trading GmbH. “RWE requires a proven hedge accounting system to help avoid misleading and unnecessary earnings volatility. Triple Point’s mature hedge accounting solution, along with its team’s subject matter expertise, made it the best choice for RWE.”

"The strict regulatory guidelines of IAS 39 in Europe and FAS 133 in the United States, coupled with increased derivative volatility, means that organizations using spreadsheets in an attempt to comply with hedge accounting standards are at risk of failed audits, large earnings swings and missed financial forecasts," said Elie Zabal, SVP, treasury and regulatory compliance division, Triple Point. "Our real-time hedge accounting system enhances hedging capability, reduces earnings volatility, alleviates compliance risk and streamlines regulatory disclosure.”

Triple Point’s hedge accounting system is based on mature, well-tested software solutions obtained in its acquisition of INSSINC. INSSINC, now the treasury and regulatory compliance division of Triple Point, serves premiere energy and commodity industry leaders throughout North America and Europe including such notable companies as: PacificCorp, TransAlta, TransCanada, SUEZ Energy, Southern Company, Ameren Energy, PPL Corporation (Pennsylvania Power & Light), Scottish Power and Campbell Soup Company.

About Triple Point Technology

Triple Point Technology^® is the leading global provider of multi-market commodity and enterprise risk management software solutions. Triple Point’s Commodity XL™ profitably integrates physical and financial markets on a real-time, service-oriented architecture (SOA) platform for commodities including power, oil, gas, coal, base and precious metals, agricultural products, biofuels and freight. In addition to Triple Point's award-winning commodity and energy trading software being used by more than 25 percent of both Global 500 commodity trading and Global 500 energy companies, other organizations with large raw material and energy exposure, including consumer products (CP), discrete manufacturers and big box retailers, are quickly adopting the Triple Point solution. Named to the Deloitte Technology Fast 50 for ten straight years, Triple Point added to its record-breaking organic growth in 2008 with the acquisitions of INSSINC, the leading provider of hedge accounting and fair value level software and ROME Corporation, the industry leader in credit risk software solutions. Triple Point, headquartered in Westport, Connecticut, USA, was founded in 1993 and serves clients from nine development and support centers located around the globe. More information is available at www.tpt.com.