Japan’s largest natural gas utility will manage its power trading business with a centralized CTRM system from an industry leader.
TOKYO (PRWEB) JANUARY 09, 2017
Allegro Development Corporation, a leading provider of commodity management software, today announced that Tokyo Gas, the largest natural gas utility in Japan and the primary provider of natural gas to metropolitan Tokyo and the Kanto region, has chosen Allegro to manage its trading operations in the Japanese electricity market.
Tokyo Gas, which was founded in 1885, provides a wide range of services, including city gas production, supply and sales, gas appliances, energy services and electricity supply.
Before choosing Allegro’s software, Tokyo Gas had been looking for a commodity trading and risk management system that would be easy to use and enable the company to streamline its power trading operations, while retaining the flexibility to keep pace with business developments.
“In the Allegro platform, we have found an innovative, sophisticated and adaptable system to meet our needs in the power trading market. Operational agility and risk management are of significant importance for Tokyo Gas and key to sustaining our competitive advantage,” said Hirofumi Sato, General Manager of the company’s Power Business Planning Department. “We are convinced that Allegro’s technological innovation will help us to achieve our business goals, and we look forward to working with the company. We’re confident that, as our requirements change, Allegro will be capable of changing with us and extending our system as needed.”
Tokyo Gas determined that Allegro will help it to strengthen and expand its electric power business, which is one of its key priorities. The company has a goal to increase its electricity sales volume from about 10 billion kilowatt-hours in 2013 to around 30 billion kWh in 2020.
Through leveraging Allegro, Tokyo Gas will gain:
A solution for end-to-end management of its integrated trading and risk management processes
A flexible partner and CTRM software provider that will work within the parameters of the company’s culture, particularly around implementation
A premier solution and implementation methodology to accommodate business development and growth in the future
“Allegro proved to Tokyo Gas that we have the most comprehensive power electricity trading functionality in the industry,” said Jonathan English, Managing Director, EMEA and APAC, at Allegro.
“This win further demonstrates Allegro’s ability to develop and implement trading and risk management solutions that meet the needs of the Japanese energy market.”
Allegro develops and markets integrated commodity management software providing position visibility, risk management, comprehensive controls and regulatory compliance. Allegro customers manage commodities from production to consumption, including oil and gas production, petroleum refining, agriculture and forestry, mining, chemicals, metals, food, transportation, commercial and utility sectors. Allegro software is tailored to the specific needs of each commodity, with a comprehensive set of features and functions to support profitable decisions. Allegro is headquartered in Dallas, with offices in Calgary, Dubai, Houston, Jakarta, Kuala Lumpur, London, Singapore and Zurich, along with a global network of partners.
About Tokyo Gas
Tokyo Gas Co., Ltd. founded in 1885, is the primary provider of natural gas for metropolitan Tokyo and the Kanto region. The company’s sales in fiscal 2015 totaled nearly 1,885 billion yen, equivalent to around $16.5 billion at current exchange rates.