Den Bosch, Netherlands, July 25, 2011 – Pioneer Solutions LLC is pleased to announce that Essent, an RWE company, has successfully implemented the first phase of the TRMTracker software product for management of its diversified energy portfolio. SPM at Essent is the single interface between Trading and Sales channels. SPM is responsible for sales portfolio management including sourcing, shaping, load forecasting, hedging and managing risks. SPM will use TRMTracker to manage the entire lifecycle of transactions from deal inception to complex settlements for Gas, Power, Oil and FX exposure.
TRMTracker is a comprehensive end-to-end energy/commodity trading and risk management solution that supports the entire lifecycle of trading. TRMTracker provides straight-through-processing of deal capture, risk management, scheduling, settlement and accounting in a single platform. The solution effectively supports market, credit and operational risks. TRMTracker is the perfect trading and risk management (TRM) solution for organizations that require a flexible robust trading and risk management tool and lower cost of ownership.
“SPM have some very unique business requirements; and was surveying the marketplace looking for ETRM technologies that can easily adapt to its existing business processes; Pioneer Solutions has proven with its flexible solution that our requirements can be met” said Menke Ubbens – Director SPM of Essent. Pioneer Solutions is increasingly becoming known for being at the forefront of delivering next generation commodity trading & risk solutions which are recognised by the industry. Pioneer Solutions has found that the marketplace is looking for ETRM technologies that can readily adapt to existing business processes. Furthermore its template (no coding required) workflow and formula driven ETRM platform can quickly configure to meet the unique needs of our clients.
“Pioneer Solutions’ rapid iterative delivery process allowed us to quickly replace our existing system for sourcing transactions within time and budget” said Arjen Evers, Project Manager at Essent. “Essent joins a growing list of TRMTracker clients that have benefited from the technologies ability to easily configure and integrate with existing systems, resulting in shorter implementations and a lower cost of ownership” said George Bradshaw– Director of Sales for EMEA.
Essent is the largest producer of renewable energy in The Netherlands and delivers electricity, gas and heat to private and business customers. The company regards the Netherlands and Belgium as its home market. The total production of the power plants of Essent is approximately 3,000 MW, nearly 2,700 MW of generation capacity is currently under construction. Essent is accounted for a fourth of all sustainably produced electricity in the Netherlands. The company employs 4,400 people.
Essent is a part of the international RWE Group. With about EUR 53 billion in revenue in 2010 and 71,000 employees, RWE is a leading European supplier of electricity and gas. In Europe, RWE supplies electricity and gas to more than 24 million customers. This positions RWE amongst the top five of European energy companies. RWE invests an average of EUR 1 billion per year in European renewable energy projects.
About Pioneer Solutions LLC
Pioneer Solutions is a global provider of commodity management software products serving some of the largest utilities in the US and Europe. We offer -ETRM, FAS133/IAS39 Derivative Accounting, Credit/Enterprise Risk and Contract Settlement products powered by the Financial and Regulatory Risk Management System (FARRMS) all web-based technology architecture. Built from the back office forward, our leading-edge, template and formula-driven, ETRM solution TRMTracker can easily adapt to unique business processes and integrate with existing systems. In addition to the FARRMS technology platform, Pioneer Solutions also provides consulting, implementation and environmental reporting products and services.