HOUSTON and LONDON, June 8, 2005 (PRIMEZONE) -- KWI, the leading provider of risk management and trading software for the global energy industry, today announced that Italy's Burgo Energia has chosen KWI to manage its energy trading requirements. Burgo Energia, the energy services company for Cartiere Burgo, (the Italian paper manufacturer), will use KWI software to help it trade more effectively on the Italian power exchange.
The Italian energy trading market celebrated its first year anniversary in April of this year. As the country's power exchange gains in momentum and becomes more sophisticated, so have Burgo Energia's activities. Burgo Energia recognized the need to replace its in-house trading solution with an advanced integrated energy trading (ETRM) platform. Following a competitive selection process, Burgo Energia selected KWI as it was the only solution offering a high level of integration and the functionality to manage portfolio and contracts at different levels.
Burgo Energia will use KWI software to manage its interaction with IPEX, the Italian power exchange, at different levels; this will include bi-lateral contracts, portfolio management and delivery program management. Burgo Energia will benefit from the complete integration of portfolio management, trading, invoicing and delivery program management on the one system. Automation of the company's internal processes will also help to reduce the likelihood of human error and improve visibility and monitoring of their total portfolio of positions in real-time.
By the end of the year, the Italian market authorities, GME, plan to launch a new block trading market -- BIPEX. KWI has expertise in this type of trading and has developed block trading solutions for over ten years.
"KWI is proud to be building on its strong client base in Italy at a time when the country's power exchange is gaining in momentum," commented David Bucknall, chief executive officer, KWI. "We welcome the decision of the Italian market authorities to launch BIPEX. KWI has been helping companies in other parts of the world trade on block markets for over a decade, so we are looking forward to helping our Italian customers trade on the country's energy market as it grows in strength and sophistication."
About KWI
KWI is a leading provider of trading and risk management software 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, Alliant Energy, Energi E2, MVM, PacifiCorp, Puget Sound Energy, Tennessee Valley Authority, Ontario Power Generation (OPG), and WPS Energy Services.
More information available at www.kwi.com