Triple Point Technology
, a provider of multi-market commodity and enterprise risk management software solutions, has announced that its Commodity XL will be used by OGE Energy Resources, Inc
. to manage their physical and financial trading, risk management, scheduling, and counterparty credit risk.
OGE Energy Resources President Craig Jimenez said Triple Point was excited about the deployment of Commodity XL by OGE Energy Resources, Inc. and that this would prove vital in forging a long-term relationship with them. He explained that Commodity XL promises a scalable solution with impressive reporting capabilities.
OGE Energy Resources will now be able to integrate physical and derivatives trading, marketing, support real-time connectivity to ICE, and manage scheduling including balance, capacity, and transportation cost by using Commodity XL.
Triple Point’s Commodity XL has already been deployed by Suncor Energy and CIMA (News
) Energy both of which are major natural gas companies. The company’s impressive client list also includes Anadarko Petroleum, ConocoPhillips, Glencore, Duke Energy (News
), WINGAS, Bunge Global Markets, The Energy Authority, and Sumitomo.
Doug Daugherty, vice president, gas technical services, Triple Point explained that gas companies with significant trading and logistical demands, including recent customers such as Suncor Energy and CIMA Energy, continue to choose Triple Point software to maximize efficiency and productivity and gain competitive advantage. Commodity XL enables supply, trading, and risk, scheduling and logistics, invoicing and settlement.
This makes it easy for all major natural gas companies to profitably manage their entire natural gas value chain and protect margins. He added that they were honored that a company of OGE's stature had chosen Triple Point.
Vinti Vaid is a contributing editor for TMCnet. To read more of Vinti's articles, please visit her columnist page.
Triple Point was in news in May for introducing Commodity XL for inspections powered by
Edited by Alice Straight