Contigo has announced that HOFOR, the largest utility in Denmark, has selected enTrader to manage its Nordic power trading activities. HOFOR supplies services to the wholesale markets, including power generation, as well as deliveries to end users. With growing complexity and changing regulations within the Nordic energy market, HOFOR identified a need to replace its existing in-house trading system. The Copenhagen based utility evaluated Contigo’s enTrader as the solution that best met its overall requirements for managing its energy portfolio, which includes Nordic power, coal, carbon emissions and FX.
Contigo’s enTrader product is a full end-to-end ETRM solution, delivering automated trade capture, position management, risk management, credit management and regulatory reporting capabilities. HOFOR will also be taking advantage of the rapid implementation and out-of-the-box functionalities, in addition to an improved governance framework for control and auditability.
The flexible API will provide HOFOR with the ability to seamlessly integrate between its trading systems and other critical business systems, reducing operational risk and removing manual processes. The modern architecture of Contigo’s ETRM solution provides HOFOR with confidence that it has a flexible and scalable solution that will be able to meet all its requirements both now and in the future.
Head of Business Development Tim Rogers says, “We are delighted to be increasing market share in Scandinavia. Bringing HOFOR into our portfolio clearly demonstrates our capabilities in managing Nordic power. Contigo now provides a strong power and gas ETRM solution for any Nordic energy market participant and we are looking forward to growing our client base here further”.
HOFOR comments “HOFOR is very pleased with the ETRM solution that Contigo offers. The system is intuitive, flexible and offers a strong foundation for HOFOR’s efforts to continuously strengthen its risk management and end-to-end business processes. We are looking forward to working with Contigo to facilitate a rapid implementation and to put enTrader to good use as soon as possible. We are confident that Contigo’s competent team will help ensure that”