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Technology Deals Mincom wins energy trading deal with Stanwell
Technology Deals Mincom wins energy trading deal with Stanwell | Mincom wins energy trading deal with Stanwell |
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| by Stan Beer | |
| Tuesday, 21 November 2006 | |
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The Mincom solution is designed to allow Stanwell to better manage its market exposure and more easily ensure regulatory compliance. In addition, the solution is designed to 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."
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