Leading energy company finalizes implementation with addition of solid fuels
DALLAS, March 9, 2017 – Allegro Development, a leading provider of commodity management software, announced today that Tampa Electric is now live on Allegro for solid fuels. This completes the power utility’s consolidation of multi-commodity transaction life cycle management for regulated electric and gas utility operations onto a single CTRM solution.
Tampa Electric selected Allegro in Q4 of 2013 to manage natural gas, power and solid fuels in an effort to streamline business processes managed in legacy, homegrown systems and spreadsheets, with the goal of consolidating position, credit and risk management. Allegro automates the flow of data across departments and lines of business for a comprehensive, 360-degree view of a portfolio.
The project was phased in by line of business, with the first phase being natural gas purchasing. Tampa Electric went live on Allegro for natural gas in November 2014 and with power in October 2015. The third and final phase of the project further extended the Allegro solution footprint to include solid fuels business operations. The solid fuel implementation went live in August 2016, with a final upgrade to achieve full capability in January 2017.
“Today’s announcement completes the phased implementation of Allegro commodity management at Tampa Electric, allowing the company greater visibility into the business, and reducing the operational complexity of its different systems,” said Frank Brienzi, CEO of Allegro. “Our project team worked closely with Tampa Electric to deliver the final phase on time and on budget.”
Allegro is the gold standard in commodity management software for companies who buy, sell, produce or consume commodities. For over 30 years, Allegro has delivered position visibility, risk management, comprehensive controls and regulatory compliance through a forward-compatible, next-generation architecture that is built for your business. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Dubai, Houston, Jakarta, London, Singapore and Zurich, along with a global network of partners. Visit Allegro’s website at http://www.allegrodev.com.