Stanwell Chooses Mincom for Energy Trading Solution.
Stanwell is an active trader in the National Electricity Market (NEM) and with Full Retail Contestability (FRC) coming into effect in Queensland on July 1st 2007, Stanwell required a robust solution to support its business critical trading and risk management activities. FRC means that all electricity customers in Queensland will be eligible to be supplied with electricity by their retailer of choice, thus increasing competition between energy retailers in the state and further stimulating the wholesale trading market.
Mincom EnergyPoint will allow Stanwell to better manage its market exposure and more easily ensure regulatory compliance. In addition, the solution will enable Stanwell to trade more sophisticated energy products and manage more complex contracts - each of which is a key portfolio management concern in the energy trading sector.
Andrew Bills, General Manger Trading for Stanwell, said, "Stanwell wanted a solution that would work now, and continue to develop in line with Australian energy market requirements, and we chose Mincom EnergyPoint after a rigorous selection process. It has been developed specifically for this market and is a vendor-supported National Electricity Market Management Company (NEMMCO) compliant risk management and trading solution. In addition to recognising the solution's superior functionality, we were also impressed with Mincom's in-depth knowledge of the energy trading and risk management business."
Peter Suchting, Executive Vice President of Mincom Emerging Products, said, "This deal is a significant achievement for Mincom because it further cements our presence in the Australian energy market. The energy market today operates in an environment that is extremely volatile. Issues such as regulatory compliance, price transparency, credit risk management, straight through processing and enterprise risk management mean that more effective tools are required to meet the day-to-day challenges of minimising risk and maximising portfolio efficiencies. Our solution supports these requirements very well."
"Mincom EnergyPoint will allow Stanwell to be more agile and help it to contract more effectively given the market's anticipated demand for energy. Stanwell will be able to position itself to offer more complex contracts, and most importantly, improve its customer service overall."
Mincom EnergyPoint is a fully integrated energy trading and risk management system. The solution offers a suite of seven integrated application modules, which have been designed to meet the immediate and future needs of organizations trading in wholesale electricity within the national electricity market.
Mincom EnergyPoint is already in use at some of Australia's leading utilities, including Snowy Hydro and TRUenergy.
Mincom Limited is an international company based in Brisbane, Australia, with more than 25 years experience in providing business solutions to asset intensive industries such as mining, utilities, transport, defence and government in more than 40 countries.
It is the fourth oldest Enterprise Resource Planning (ERP) company and has more than 1,200 staff in 19 offices across Australia, North America, South America, South East Asia, Africa, and Europe. For more information about Mincom, visit: www.mincom.com
Stanwell is one of Australia's leading generators of environmentally responsible electricity, with coal, hydro and wind facilities. Stanwell supplies reliable, low cost electricity to help meet the power needs of industrial and residential customers in Queensland and other Australian states served by the National Electricity Market.
For more information about Stanwell, visit www.stanwell.com.