KWI unveils new energy risk system

K2 comprises eight product components, spanning front- to back-office functions. These are compatible with legacy technology, enabling energy trading companies to match particular components to specific requirements, KWI chief executive David Bucknall told delegates at the company’s user group conference in London this morning.

The eight components are: trader desktop; deal capture and confirmation; nominations, scheduling and actuals; invoicing, settlement and cash management; curves and market data management; credit risk; asset optimisation and enterprise risk; and financial and risk reporting.

The new system also includes enhanced gas and multi-commodity capabilities, as well as a new deal-capture framework and trading-centric reporting, Bucknall added.

KWI clients signed up to use kW3000 will be able to update to K2 with no “financial penalty” when the system becomes operational in March 2004, Bucknall told RiskNews' sister publication Energy Risk (the new name for Energy & Power Risk Management).

KWI also said E.ON Benelux, the Rotterdam-based power company, has signed up for kW3000. The first phase of the project will go live on December 3 this year, with the second phase planned to begin in the new year, when E.ON Benelux will upgrade to K2. Earlier this month, PSE-Electra, the trading arm of Polskie Sieci Elektroenergetyczne (the Polish Power Grid Company) also signed up to use kW3000.

A feature article detailing the state of the energy risk technology market will appear in the December issue of Energy Risk.

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