Multinational utility EDP selects ION Commodities' Openlink

LISBON, Portugal, Oct. 19, 2021 /PRNewswire-PRWeb/ -- ION Commodities, a global provider of commodities trading and risk management solutions, announces that Energias de Portugal (EDP) has selected ION Commodities' Openlink CTRM as its new power and gas pricing and offer management solution. Along with Openlink, ION will deliver a range of Center of Excellence (CoE) managed services to support EDP with daily operations, and optimize current processes and system usage.

EDP – a Lisbon-based, multi-national utility company with a growing focus on renewables – had experienced a significant increase in transaction volumes and required a solution to simplify operations, deliver automation, increase scalability, and improve reporting. Openlink will integrate and provide transparency across EDP's trading and retail operations and calculate prices for sales offers, while monitoring associated risks and exposures.

Openlink is ION's multi-commodity CTRM solution for integrated enterprises that need to standardize complex workflows, automate operations, and consolidate reporting across the business. Openlink's customers in the power and utility market benefit from fully integrated front, middle, and back-office capabilities for managing power purchase agreements and renewables assets and combining them with traditional trading and hedging for power, gas, and regulatory credits for more informed decision-making.

"We selected Openlink to help us grow our retail business, which could only be achieved by deploying a fit-for-purpose solution that could provide automation and scalability while improving business controls through enhanced risk management and business reporting," said an official EDP representative.

"EDP is the latest energy trading business to select Openlink for its ability not only to support both traditional power and gas transactions but also trading in renewables, a growing focus for our energy clients. Openlink delivered through ION Cloud, together with CoE, provides a more resilient system that can help meet current and future market conditions and volatility," said ION Corporates CEO Richard Grossi. "I'm pleased to welcome EDP to ION's market-leading CTRM community."

About ION Group
ION Group provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their business for sustained success through continuous innovation. For more information, visit https://iongroup.com/.

About ION Commodities
ION Commodities delivers data-driven energy and commodities trading and risk management solutions across the supply chain. Our scalable ETRM and CTRM solutions equip clients to use real-time risk analytics and reporting, minimize supply chain risks, automate critical business processes, and make faster, more informed decisions. We provide full support and transparency for procurement, supply, and trading to a global community of over 1,200 clients. For more information, visit https://iongroup.com/commodities/.

Media Contact

ION PRESS AND MEDIA, ION, +1 212-335-7110, [email protected]

Hawthorn Advisors, Hawthorn Advisors, +44 20 3745 4960, [email protected]

SOURCE ION Commodities