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Multinational Utility EDP Selects ION Commodities’ Openlink - ION Commodities’ Openlink integrates EDP’s Trading And Retail Operations And Calculates Prices For Sales Offers

Date 19/10/2021

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.”