A week after rival QuickTrade launched its new electronic powertrading system, Altra Energy Technologies followed suit withStreamlineT for Power, a real-time trading system for wholesaleelectricity. The two systems arrived on the market during atumultuous period, in which skyrocketing power prices forcedseveral marketers to default and many others to suffer bigfinancial losses. Altra said its system should provide users acertain amount of protection in the unpredictable and oftenvolatile power market.
“Through real-time information and processes, such as validatedprice discovery and pre-approved counterparties, Streamline forPower can minimize the likelihood of flagrant price swings,” saidMatt Frye, vice president of electronic trading for Altra.
The recent volatility in the power market has increasedcompanies’ interest in Streamline for Power, said Frye. “Four yearsago, when Altra introduced Streamline for Gas, electronic tradingwas a new concept,” he said. “In today’s rapidly evolving powermarket, the demand for quick, easy-to-use trading technology hascreated high interest in Streamline for Power. Since we announcedthe product in May, 33 power marketers have committed to usingStreamline for Power, and we anticipate adding 25 or more in thethird quarter.”
Streamline for Power offers power traders a forward-market focuswith the ability to trade a variety of terms, ranging from outmonth transactions, down to day trades and the hour-ahead market.It provides trading at all major power trading points in NorthAmerica, including Palo Verde, COB, PJM, ERCOT, ECAR, Entergy,Cinergy and Ameren. Once a trade is consummated betweenpre-approved counterparties, each party is revealed to one anotherfor the first time and receives automatic electronic and faxedconfirmation of the deal.
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