11 June 2015, London: Brady, the leading global provider of trading, risk management and settlement solutions to the energy, commodities and recycling sectors, announced today that Fortum, one of the largest power suppliers to the Nordic/Baltic regions, has selected Brady Energy Data Management solution (EDM). EDM is purpose built to process and store the high levels of data that is generated by new communication streams created in the deregulated energy markets. EDM is a front- to back physical trading platform with a fully integrated communications gateway.
Fortum Electricity Sales, headquartered in Espoo, Finland, is a leading energy retail company in the Nordic countries: Finland, Sweden and Norway. Its activities cover the sales of electricity to over 1.3 million electricity consumers across the markets they supply.
Emerging trends such as smart grids, renewable energy sources, data hubs and more transparent networks are setting new standards and requirements on energy data management (EDM) solutions. Market participants who are able to adapt to new changes quickly and enhance efficiencies are in the best position to succeed. The ability to efficiently collect and manage massive amounts of energy data and handle communication processes between multiple market participants is critical in today’s data management systems.
With its long history in the most advanced deregulated markets, Brady Energy has developed deep knowledge and market-leading solutions that allow customers to meet new business requirements as well as exploit new opportunities today and in the future.
Måns Holmberg, Head of Sales Trading and Energy Management at Fortum Electricity Sales, commented: “During our selection process we were convinced that Brady’s EDM offered the most solid solution to meet the market requirements for the forthcoming Nordic Balancing Settlement initiative, which is fundamental to companies operating in the Nordic market”. Continuing he said: “Key to our decision is Brady’s partnership approach working with ourselves and other customers to ensure that the NBS project requirements are met, in time and on budget, without compromising on quality”.
Says Gavin Lavelle, CEO of Brady: “Brady is one of the top vendors in the commodity and energy trading and risk management arena and is the leading provider of energy solutions in the Nordic space. On a daily basis between 60-70% of all physical traded power in Norway is processed in Brady EDM. Together with our customers we will meet the forthcoming deadline to ensure that all our customers are ready. I am delighted that our partnership with Fortum is further strengthened and look forward to working closely with customers to continually refine our solution offering to ensure we meet current and future market requirements.”
Key features of Brady EDM include:
Scalable ‘metering data management’
Combining automated data collection, aggregation, verification and substitution with out-of-the-box support for all standard meter data file formats, Brady Energy’s solution delivers easy integration and smooth operations.
Automated ‘short-term trading’
By automatically including spot market trades into existing portfolios, the Brady Energy solution ensures all data is available for reporting at any time while its integrated bid management functionality makes spot trading much easier in the Nordic, Baltic and European markets.
Powerful ‘balancing and scheduling’
Brady’s integrated energy and gas logistics supports balancing and scheduling across European markets and interconnections. Its modularity and support for a wide range of standards enables customers to quickly enter new markets when the opportunity arises.
Configurable ‘settlement and invoicing’
EDM automates settlement/invoicing to the degree required. Once the data is in the system, it is available throughout the entire deal life cycle, or certain elements may be quarantined. The flexible workflow and notification engines allow automation that is tailored to the business’s processes.
Editorial contact for Brady
Rebecca Sanders Hewett/David Ison/Charlie Geller
Tel: +44 (0) 20 7382 4730
Email: rsh@RedleafPolhill.com, di@RedleafPolhill.comor cg@RedleafPolhill.com
Notes to Editors
Brady is the largest European-headquartered provider of trading and risk management software to the global commodity, recycling and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined metals, scrap and secondary metals, soft commodities and agricultural products.
Brady has 30 years’ expertise in the commodity markets with over 300 customers worldwide, who depend on Brady’s software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world’s largest financial institutions, trading companies, miners, refiners, scrap processors, recyclers and producers, tier one banks and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.
For further information visit: www.bradytechnologies.com
Fortum’s purpose is to create energy that improves life for present and future generations. Fortum’s expertise is in CO2-free and efficient electricity and heat production. The company also offers energy-related products and expert services to private and industrial customers and energy producers. Fortum’s main areas of operation are the Nordic and the Baltic countries, Russia and Poland. In 2014, the annual sales (excluding the divested electricity distribution business) totalled EUR 4.1 billion, and comparable operating profit was EUR 1.1 billion. The company employs approximately 8,400 people.
Fortum’s share is listed on Nasdaq Helsinki.
For further information visit: www.fortum.com