SINGAPORE and SENDAI,
Japan, Aug.
14, 2018 /PRNewswire/ -- ION, the largest global provider of
trading, analytics and risk management solutions for capital
markets, commodities and treasury management, today announced that
Tohoku Electric Power Company (Tohoku), a top-tier power generating
utility in Japan, has implemented
Openlink's platform for energy trading and risk management (ETRM)
on the cloud.
With total power generation assets amounting to 18,210
megawatts(as of March 2017), Tohoku
is a major presence and pioneer in the country's recently
liberalized and highly competitive energy market. Legal
unbundling of transmission and distribution is expected in
April 2020.
Tohoku crafted an ambitious plan to set up a new subsidiary
trading company that could take advantage of emerging,
cross-commodity trading opportunities in power, fuel, and other
complex derivatives. To support their strategy, Tohoku
required a robust, enterprise cloud-based ETRM solution, backed by
best-in-class services and support.
Kaoru Hijikata, Executive Officer
at Tohoku, said, "Tohoku is prepared to lead the Japanese energy
market during a time of great change as we rapidly expand our
portfolio to better serve customers. With Openlink's
cloud-based ETRM platform, we achieve greater business agility as
we grow, with the ability to quickly add new price models, users,
and trading desks. In addition, we significantly enhance our
risk management and operational controls by viewing all risks,
positions and scenarios in real-time."
ABeam Consulting provided project management services and
business process expertise.
"We are very pleased to engage in the project to implement
Openlink Cloud for Tohoku," said Makoto
Iida, ABeam's project lead. "Our teams worked closely
together to meet Tohoku's requirements and lead the project to a
successful implementation with great efficiency."
Rich Grossi, CEO of Openlink and
member of the ION Commodities executive board, said, "Tohoku serves
as a model for the modern utility company in Japan—bringing new
offerings to customers with efficiency and scale, and driving
excellence in trading and risk management to sharpen its
competitive edge. We are proud to support Tohoku during a
time of transition and growth, drawing on the strength of our
Openlink Cloud ETRM platform and the depth of our Asia Pacific-based account management and
professional services organizations."
About Openlink
Openlink (www.openlink.com), a
division of ION, provides award-winning solutions for trading,
treasury and risk management to serve energy companies,
commodity-intensive corporations, and financial services
institutions—on-premises and via the Openlink Cloud.
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