HOFOR supplies over one million customers in Greater Copenhagen with drinking water, district heating and cooling, town gas and disposal of wastewater. The company also protects the metropolitan area against torrential downpours, erects wind turbines, solar parks and owns the power station Amagerværket, which produces electricity and district heating.
With growing complexity and changing regulations within the Nordic energy market, HOFOR identified a need to replace its existing in-house risk management system.
Following a competitive tender process, Contigo’s enTrader ETRM solution was selected to accommodate HOFOR’s requirements for managing its energy portfolio and Nordic power trading activities.
It proved to be a pivotal moment for Contigo, as HOFOR’s requirements meant pushing the capabilities of its ETRM solution further than ever before, and the results were game-changing.
HOFOR required the Profit and Loss (P&L) functionality within enTrader, known as the Portfolio Data screen, to be built into the software’s core functionality, as opposed to it being a bespoke expansion. Thankfully, enTrader is built to be easily extended by additions to core functionality, so it was viewed as an opportunity, rather than a challenge.
Contigo worked closely with HOFOR to discover what was needed and produced the finished product to their requirements.
Contigo is openly happy to work in partnership with clients to enhance the product and develop the functionality they require, and it was this level of adaptability and flexibility that opened the door to even more opportunities for Contigo to make enTrader truly adaptable to HOFOR’s needs.
Contigo was able to add in the functionality of allocating trades within the business itself, by developing custom code to enable HOFOR to distribute energy to specific power stations, for example. And the flexibility doesn’t end there.
HOFOR also needed the system to be able to trade biomass as a commodity, in the form of chips or pellets. Whilst HOFOR was the only client that required this commodity, all that was needed was a simple configuration that enabled enTrader to add this functionality. In addition, a flexible API provides HOFOR with the ability to seamlessly integrate between its trading systems and other critical business systems, reducing operational risk and removing manual processes.
Kenneth Topgaard Chmura, Head of Risk Management & Treasury at HOFOR, comments:
HOFOR is very pleased with the ETRM solution that Contigo provides. The system is intuitive, flexible and enables us to continuously strengthen our risk management and end-to-end business processes.
The modern architecture of Contigo’s ETRM solution provides us with confidence that it has a flexible and scalable solution that will be able to meet all our requirements, both now and in the future.
Contigo CEO, Simon Wheeler, adds:
As a result of working with HOFOR to customise enTrader, we enhanced the functionality of the ETRM system to meet the specific needs of their business. The power of partnerships can never be underestimated, and what this case study shows, is that with an adaptable vendor, and a committed client, almost anything can be achieved.
Contigo’s enTrader is a full end-to-end ETRM solution, delivering automated trade capture, position management, risk management, credit management and regulatory reporting capabilities.
To learn more about HOFOR, click here.
Contigo is proud to have HOFOR, the largest multi-utility company in Denmark, as one of its clients. The Copenhagen-based company created a working partnership with Contigo that resulted in the implementation of a robust ETRM solution that delivered considerable benefits.
Case study highlights
- Contigo selected to accommodate HOFOR’s energy portfolio requirements
- ETRM from Contigo designed with flexibility in mind
- The modern architecture of Contigo’s ETRM solution provides confidence
- enTrader is built to be easily extended