LONDON--(BUSINESS WIRE)--Allegro Development Corporation, a leading provider of commodity value chain risk management (CVCRM) software, announced today the successful implementation and deployment of Allegro 8 software solutions at DTEK for real-time position management of natural gas trading.
DTEK, the Ukraine’s largest privately owned and integrated energy company, selected Allegro in 2012 to provide a comprehensive energy trading and risk management system for their expanding power and coal trading operations. The first phase of DTEK’s deployment went live in late 2012 and included counterparty, contract and trade management for power operations, power back office (invoicing, credit risk management and document templates), with coal trading front and back office as a second phase launched in 2013.
In 2014, DTEK continued to expand its product footprint within the Allegro 8 platform, with the decision to implement the solution across its natural gas business. DTEK is now live on Allegro 8 for natural gas scheduling, storage management and actualization.
“As DTEK continues to expand its complex positions within commodity markets, Allegro has become the system of record for managing trading and risk across our entire energy portfolio,” said John Woodham, DTEK’s Deputy Commercial Director. “As part of the company-wide effort for the implementation of the international standards and practices, Allegro becomes yet another key milestone in this strategic undertaking.”
Leveraging Allegro allows DTEK the ability to:
- Practice real-time position reporting
- Reduce operational risk through streamlined workflows and approval processes
- Scale their business to support ongoing growth in trading volume and complexity
- Improve physical transaction management
- Capture complex trades and run advanced analytics
Allegro is a leading provider of commodity value chain risk management (CVCRM) software for power and gas utilities, refiners, producers, traders and commodity consumers. With more than 30 years of deep industry expertise, Allegro provides real-time intelligence and decision-making capabilities, from the source of the commodity (ground), through transportation, to the commodity consumer. Allegro’s software provides the global intelligence companies need to manage physical and financial positions, and to optimize their assets and portfolios using tools that quantify and mitigate risks. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners. For further information please contact Claire Peel at +44 (0)2073824341.
DTEK is the largest energy company in Ukraine. It is part of the financial and industrial group System Capital Management (SCM). The shareholder of the group is Rinat Akhmetov. Maxim Timchenko is the Chief Executive Officer of DTEK. Currently, DTEK employs 140 thousand people. Electricity is the core product of DTEK. The assets portfolio is represented by 10 thermal power plants and two combined heat and power plants with 18 GW of total installed capacity; one windfarm with the installed capacity of 200 MW; five electricity distribution enterprises, which provide services to over 5.2 million customers – both individuals and legal entities; 31 mines and 13 coal-processing plants; oil and gas extraction assets. In 2013, DTEK’s enterprises generated 53 TWh and transmission 56.9 TWh of electricity by grids to consumers; coal output equaled 41.4 mln tonnes and coal processing amounted to 29.3 mln tonnes. DTEK exports electricity to 4 countries and coal to 31 countries worldwide. DTEK’s consolidated revenues in 2013 amounted to UAH 92.8 billion; the Company’s net profit totalled UAH 3.3 billion.