Renewable energy firm Good Energy choose Contigo
South West based energy supplier, Good Energy was looking for a solution to manage its Energy Contract Volume Notifications (ECVN) and approached Contigo after receiving a recommendation for the enTrader Product Suite. They were impressed with Contigo’s straight-through automated ECVN nominations and the UK gas and power trading capabilities.
Established in 1999, Good Energy was the first UK energy supplier to offer 100 per cent renewable electricity to the nation’s households. It supplies renewable power to over 30,000 domestic and commercial customers, with the addition of gas to a further 6,700 domestic customers.
Good Energy was so impressed with Contigo’s straight-through automated ECVN nominations and the UK gas and power trading capabilities they opted to purchase both; enTrader, an energy trading and risk portfolio management programme; and enVoy, a communications and regulatory notifications platform.
enTrader allows energy traders to manage and compare multiple positions including demand, supply and traded views of data. Trades can also be managed in a half-hourly granularity for power and daily for gas, although both can be customised to suit. The product suite also allows for position snapshots, audit trails, search and filter capabilities which are increasingly important for regulatory compliance.
The team at Good Energy highlighted a number of enTrader’s built-in features as being most impressive, including the suite’s ability to be customised to connect with any existing third party software; supported Application Programme Interface, allowing the client to develop their own customisation code without needing to return to Contigo; and inclusion of custom attributes which allows users to add client-specific data to the system on a project-by-project basis.
Nick Haines, Head of Trading at Good Energy, said: “By implementing Contigo’s products we benefit from wide ranging inbuilt and user configurable workflow functionality for trade lifecycle management. This delivers an immediate improvement to our operation and will ultimately ensure that the trading function is running as efficiently and effectively as possible, to the benefit of our customers.”
He concludes: “Working with Contigo has been an almost unique software solution experience, with their can-do attitude, realistic project management, wealth of relevant industry experience and close working relationship. Their products are built from the core system up typically using straightforward inbuilt functions to meet the requirements of the users and the added customisation is something that you just don’t see in traditional off-the-shelf trading solutions.”
Nick Haines, Head of Trading