PPL Services Corporation Selects Triple Point for Credit Risk Management
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WESTPORT, CT, Mar 24 (MARKET WIRE) --
Triple Point Technology(R), the leading global provider of multi-market
commodity and enterprise risk management software solutions, announced
today that PPL Services Corporation (NYSE: PPL), with assets of $19B, has
selected Commodity XL(TM) to manage its energy credit risk processes.
Credit risk modules licensed by PPL include Commodity XL(TM) for Credit
Risk, Credit Analytics, Credit Scoring and Contract Management.
Headquartered in Allentown, PA, PPL controls more than 11,000 megawatts of
generating capacity in the United States, sells energy in key U.S. markets
and delivers electricity to about 4 million customers in Pennsylvania and
the United Kingdom.
PPL required a credit risk system to help manage the risks associated with
its generation business including net open positions, non-performance by
counterparties, contract valuation and interest rate risk. "Our company
needed an enterprise credit risk system to support current energy trading
operations and expansion in our generation business," said Donald R.
Loughney Jr., director of trading controls, PPL. "After reviewing a
variety of options, we chose Triple Point to help PPL achieve disciplined
growth in energy supply margins, while limiting volatility in cash flows
and earnings."
PPL joins The Energy Authority and Electrabel in its recent selection of
Triple Point's comprehensive software solution suite for credit risk
management -- clearly affirming Triple Point's unmatched ability to
provide its clients with the most effective solution to manage credit
risk activities and deliver timely information for confident
decision-making. Other notable companies that have implemented the credit
risk solution include New York's Independent System Operator (NYISO),
Electric Reliability Council of Texas (ERCOT), ConocoPhillips, Southern
California Edison, BG Group and FirstEnergy.
"Commodity and energy markets are endorsing Triple Point's capacity to
provide the most effective solution available to manage credit risk
activities at the enterprise level," said Dan Reid, VP, credit risk
division, Triple Point. "A major draw is our ability to offer the leading
modules for credit risk and credit analytics (PFE) that can be implemented
as standalone solutions or pre-integrated with trading and risk."
Triple Point was recently voted the #1 Credit Risk Software Vendor by
Energy Risk magazine in 2009. The magazine's annual software survey asks
users to evaluate top software vendors based on their functionality,
usability, performance, return on investment and reliability. Triple
Point also garnered top rankings in trade capture, operational risk, and
physical and financial integration, further illustrating the depth and
breadth of its multi-commodity platform.
About Triple Point Technology
Triple Point Technology(R) 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.
Contact:
Jennifer Jones
Tel: +1.203.291.7979
Email: Email Contact
Copyright 2009, Market Wire, All rights reserved.
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