LONDON and HOUSTON, Dec. 6, 2004 (PRIMEZONE) -- KWI, the leading provider of risk management and trading software for the global energy industry, today announced that three of Italy's leading electricity companies are successfully trading on the country's new Energy Pool. Edipower SpA, Tirreno Power SpA and SIET SpA, (a subsidiary of AEM Torino SpA), are using KWI software to manage and trade their energy portfolios on the new market, which opened on April 1, 2004.
The three companies are using kW3000(TM) GME Bid Manager to manage their entire portfolio and successfully interface with the market operator, GME, (Gestore Mercato Elettrico). KWI's trading platform also enables the electricity providers to integrate fully with GRTN, the Italian grid, to manage all contract requirements. By deploying KWI's technology, Edipower SpA, Tirreno Power SpA and SIET SpA have been able to introduce best practice by automating internal processes, resulting in greater efficiency, visibility and optimization of their trades.
David Bucknall, chief executive officer, KWI said, "We are delighted to have supported our clients' entry into the newly-formed Italian energy market with confidence by implementing the best systems and processes for energy trading. We are committed to listening to and working with our customers to provide solutions which meet their needs and help them adapt to market developments with greater agility and speed."
Ing. Riccardo Angelini, SIET SpA commented, "By implementing the appropriate systems and processes, we fully prepared the business to trade on the Italian Energy Pool when it opened in April. The KWI solution is part of this implementation project and we have been successfully trading on the energy market for over six months, and look forward to embracing the market as it evolves and matures."
KWI's bidding product is one of the strongest applications of its type available, capable of supporting the sophisticated process of bidding on all sessions of the Italian energy market. The solution provides customers with a single point of reference, enabling them to compete more effectively.
On January 1, 2005, the bidding for buy-side will commence. This market development will see the direct interaction of operators on the sell-side, with operators on the buy-side. Operators will therefore buy and sell energy directly on the Italian Energy Pool and market dynamics will influence the shape of this fledgling market into the future. KWI is already supporting the buy-side market with its innovative products.
Notes to editor
GME (Gestore Mercato Elettrico) is the institution responsible for organizing and managing the Italian electricity market, promoting competition between producers and ensuring an adequate availability of reserve power. In order to successfully trade through GME, and to derive the full benefits of market participation, it is imperative that Italian electricity companies implement the correct systems.
About KWI
KWI develops trading and risk management software products for the global energy industry. Developed specifically for global energy businesses, KWI's flagship product, K2, is a comprehensive suite of componentized, integrated applications for multi-commodity trading and risk management.
KWI is an international software company with customers in North America, Europe and Asia, including BP, ATEL, CEZ, ENEL, Energi E2, MVM, WPS Energy Services, Ontario Power Generation (OPG), PacifiCorp, Tennessee Valley Authority (TVA) and BNFL Magnox Generation.
More information available at www.kwi.com