For any major energy supplier, sourcing electricity or gas for delivery to customers is an essential function. At Centrica plc, a leading integrated power and gas supplier in the UK, that task falls to business division, Centrica Energy.
One of Centrica Energy’s important sources of energy is trading in the wholesale markets. It trades UK and European power and gas via its market trading arm, Accord. This is done both speculatively and to hedge against the price risks inherent in the volatile energy markets.
Challenge
Centrica Energy’s trading function enables it to secure demand for gas and electricity supply within the UK market. The company had been using home-grown technology solutions in response to specific market demands. But by 2005, these systems could not keep up with the pace at which Centrica Energy was operating, deliver the risk management and trading capabilities required, or offer the flexibility necessary to deliver its strategic goals of entering new markets, new geographies and new commodities.
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* Please note: This news article refers to 'The Structure Group' - the previous name for Baringa Partners. All historical references and intellectual property of Structure Europe LLP are assets of Baringa Partners LLP.
