Norway's Hydro selects Allegro for its worldwide commercial energy trading
- Risk Management
- 19.10.2015 01:00 am
Allegro, a leading provider of commodity management software, today announced that Norway's Hydro has selected the Allegro 8 trading and risk management platform to manage its global energy operations. The company is Norway’s second-largest producer of hydroelectric power, with approximately 10 TWh of yearly production.
Hydro is a global aluminium company with production, sales and trading activities across the energy value chain, from bauxite, alumina and energy generation to the production of primary aluminium and rolled products as well as recycling. Based in Norway, the company has 13,000 employees involved in activities in more than 50 countries on all continents.
“In today’s business environment, risk management is crucial for providing decision support, managing compliance and the overall business” says Preben Richter, Head of Risk Management, Hydro Energy. “With Allegro, we selected a modern commodities management system that provides us with visibility, necessary functionality and adaptability.”
Jonathan English, Managing Director Allegro EMEA and APAC, was pleased to extend Allegro’s footprint in the Nordics, winning yet another customer based on Allegro’s capabilities to deliver leading edge technology. He commented, “We are delighted to add Hydro to our rapidly growing customer base in the Nordic region. It is a very important win, and we feel confident that the partnership will be very successful.”