HOUSTON, July 8, 2003 — Excelergy® Corp., a provider of high performance software platforms automating critical business processes in the energy/utility industry and other restructuring value chains, unveiled its new Excelergy HedgeDirectà¢â€ž- platform at a special press briefing at the Four Seasons Hotel in Houston, Texas.
Excelergy HedgeDirect is a real-time transaction management platform that provides complete end-to-end automation and straight-through processing for the quoting, execution, confirmation, clearing and contract management of structured retail pricing deals for power and gas.
“Presently there is significant market opportunity for a software platform that delivers accurate, real-time execution of complex structured retail deals,” said Terry Ray, META Group’s vice president for Energy Information Strategies. “Up to now, retailers have depended on slow, error-prone manual processes. These can put their companies at great risk as market shifts continue to occur during the time it takes to create and execute contracts. One bad deal can have a dramatic impact on a retailer’s bottom line performance. In addition, companies are looking for solutions which provide real-time disclosures on a rapid and current basis.”
Houston-based Occidental Energy Marketing (OXY) and Berlin, Connecticut-based Select Energy Inc. already have signed on as charter clients to deploy Excelergy HedgeDirect, and Excelergy expects to announce several additional HedgeDirect clients this quarter. Excelergy HedgeDirect is being offered as both 1) a managed service and 2) a standard application license.
In both cases, the new platform will enable end-to-end straight-through processing, provide complete automation of pricing and contracts, minimize manual errors, reduce time delays between offer and execution, avert disputes, automatically enter retail commitments into the trading book to cover positions, and provide detailed auditing for financial performance, commission plans, accounting and regulatory reporting.
“Excelergy HedgeDirect revolutionizes the way energy merchants will conduct business with their most important customers,” said Bill Mahoney, Excelergy’s president and CEO. “It dramatically reduces risk while increasing profitability on structured price deals. The new platform is further proof of our commitment to offer measurable and sustainable ROI to our clients across the energy value chain.”
About Excelergy® Corporation
Excelergy is a provider of high performance software platforms that increase revenues, improve cash flows and reduce costs in the energy/utility industry and other restructuring value chains. Excelergy’s highly flexible, scalable software systems automate forecasting, trading, scheduling, billing, settlement and customer/partner acquisition and care. They are based on an open, object-oriented, Web-centric, native XML technology architecture. More information is available at www.excelergy.com.