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July 14, 1999
- For Immediate Release
Santa Clara, CA and New York, NY - ABB Energy Information
Systems and Caminus LLC announced today that the two companies have formed
an alliance which will give customers the most comprehensive set of tools
available for managing the business of providing energy to global markets.
By combining products from both companies, the alliance creates a comprehensive
end-to-end solution previously unavailable to the energy industry. For
the first time, the vertically integrated energy supplier will have the
ability to manage risk along the entire value chain, from wholesale acquisition
of energy through retail sales.
As competitive conditions for electric and gas utilities across North
America and Europe increase, energy suppliers will experience additional
challenges, including severe pressure on retail margins and significant
wholesale price volatility. The partnering of ABB and Caminus creates
the only total software solution that enables energy retailers to meet
both these business challenges systematically and successfully, by providing
them with the ability to:
- Offer and manage
the increasingly sophisticated, customized tariff schedules demanded
by retail buyers Ð quickly, fully costed and risk-assessed Ð however
complex the load profile and pricing structure;
- Manage wholesale
market risk with precise tools that enable competitive pricing by eliminating
the need to build in significant safety margins for unquantified risk;
- Aggregate full-granularity
retail loads into risk-manageable packages and comprehensively test
the match between retail and wholesale portfolios;
- Accurately match
the market exposure of residual unhedged wholesale positions, using
the latest risk management methods;
- Simulate market
and generation asset operation and optimize production schedules against
wholesale trading positions; and,
- Analyze the potential
profitability of bids into power exchanges, power pools and ISO ancillary
markets.
Both ABB and Caminus
are market leaders with a global focus. The Zai*Net suite of software
products from Caminus comprises the leading risk management and trading
system available in the energy market today with electricity and gas customers
throughout North America and Europe. ABB's product suite has been leading
the electric industry for years with business solutions from wholesale
to retail. With centers of excellence in Sweden, Germany, England and
the United States, ABB's quality product scope is matched only by their
global presence.
The partnership will deliver significant competitive advantage to the
market by combining the leading products in risk management, trading,
physical operations and optimization, and retail management. ABB's products
and services are in use by a large number of customers worldwide and Caminus
boasts a global client base of more than 60 major energy enterprises.
The combined strength of ABB and Caminus creates an international support
network of over 600 professionals to implement the complete, end-to-end
integrated solution addressing both the physical and financial aspects
of energy trading. No other vendor can match their combined record of
successful implementations or deliver the global services required to
support the partnership's advanced information technology.
About ABB:
ABB Energy Information Systems develops and markets a wide range of software
products and systems to the electric power industry. ABB is the global
leader in high-level information management, bulk power business management,
decision support and forecasting for large power systems. It also provides
applications for the emerging energy trading market allowing energy traders,
energy service companies, and power exchanges to become more efficient
in web-based trading, forecasting, bidding, and monitoring the bulk and
retail power market. With office locations in Australia, Germany, Sweden,
the UK, and the USA, ABB Energy Information Systems has the global response
to your software needs - www.abbes.com.
ABB Energy Information Systems is a unit of ABB. ABB, with U.S. headquarters
in Norwalk, Conn., serves customers in power generation, transmission,
and distribution; automation; oil, gas, and petrochemicals; industrial
products and contracting; and financial services. ABB had U.S. orders
of approximately $6.1 billion in 1998 and employed about 20,000 at manufacturing
and other facilities in 41 states. Worldwide, ABB Group reported orders
of $31 billion in 1998. The Group employs about 160,000 people in more
than 100 countries - www.abb.com.
About Caminus:
Caminus, an international company and leader in providing a strategic
advantage to participants in the global energy market, is headquartered
in New York, with offices in Houston, Texas; London and Cambridge, UK;
and Berlin, Germany. Caminus' Zai*Net software is the foremost energy
trading, risk management and scheduling system available in today's competitive
energy markets. For recent news releases and other information on Caminus,
visit the company Web site at www.caminus.com.
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