BG Group Deploys Triple Point for Power and Gas Trading and Risk Management.Proprietary Triple Point Quick Start program enabled deployment in less than 8 weeks WESTPORT, Conn. -- Triple Point Technology, the leading global supplier of cross-industry software platforms for the supply, trading, marketing and movement of commodities, announced today that BG Energy Merchants, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (BGEM BGEM Battle Group Effectiveness Model ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of BG Group plc (BG), has selected Triple Point Commodity XL[TM] for Power and Gas. The fully integrated solution enables BG's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. power trading organization to manage physical and financial trading, risk and scheduling in northeast US power markets including PJM PJM Pacific Journal of Mathematics PJM Project Manager PJM Puerto Jimenez, Costa Rica (Airport code) PJM Pennsylvania New Jersey Maryland Interconnection LLC (Mid-Atlantic region power pool) and ISO-NE. BG Group is a global natural gas business, active on five continents in 26 countries. It is a leading player in the global energy market. "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," said Matt Schatzman, President, BGEM. BGEM is using Triple Point's sophisticated risk analytics to model its gas-fired power plants on the spark spread Spark Spread The difference between the market price of electricity and its cost of production. Notes: This measure is important because it helps utility companies determine their bottom line (profit). - 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. "Time to market and ease of integration were critical to BG and they asked for a very aggressive implementation time frame," said Brad Hamlin, Triple Point's vice president of client operations for the Americas. "The Quick Start[TM] program was designed specifically to get clients from contract signing to full production in a short period and we have a proven track record of getting customers up and running in less than 16 weeks, with several customers fully implemented in a 6 to 8 week period." 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 straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. 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. Other modules selected by BGEM include Power Scheduling 'Visual Cockpit'[TM] and the recently announced Commodity XL Xchange[TM]. Xchange extends Triple Point's real-time, straight-through processing from exchange trade execution to all Commodity XL functions, including risk management, scheduling and back office processes. After rigorous testing and verification, Commodity XL Xchange has achieved certification from both ICE and NYMEX See New York Mercantile Exchange. NYMEX See New York Mercantile Exchange (NYM). (New York Mercantile Exchange New York Mercantile Exchange (NYMEX) The world's largest physical commodity futures exchange. ), ensuring the seamless transmission of accurate, real-time trade information from the exchanges directly into the Commodity XL system. About BG Group BG Group PLC is a global natural gas and power business. Active on five continents in over 25 countries, it operates four business segments - Exploration and Production, LNG LNG (liquefied natural gas): see under natural gas. , Transmission and Distribution, and Power. More information is available at www.bg-group.com. About Triple Point Technology Inc. Triple Point Technology is the leader in trading, risk management, scheduling and logistics solutions for commodities, including power, oil, gas, coal, metals, agricultural products, biofuels and freight. Triple Point Commodity XL profitably integrates physical and financial markets from the front-to-back office for all commodities on a single, real-time, next-generation platform. Triple Point's award-winning solutions are used by more than 25 percent of both Global 500 commodity trading companies and Global 500 energy companies. Founded in 1993 and headquartered in Westport, Connecticut Westport is a coastal town in Fairfield County, Connecticut, in the United States. The 2004 population estimate was 26,644. The town is as affluent as other expensive Fairfield County towns, boasting a per capita income of more than $70,000. , USA, Triple Point serves clients from five development and support centers located around the globe. More information is available at www.tpt.com. |
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