July 7, 2014 - Brady plc (BRY.L), the leading supplier of trading and risk management solutions for commodities, recycling and energy, announced today that Energiameklarit Oy, a Finnish-based company owned by 24 Finnish electricity companies, has selected Brady ETRM and the EMIR reporting tool to enable it to provide portfolio management services to its customer base consisting of numerous energy utility companies in Finland.
The Finnish electricity market was one of the early markets to be deregulatedand is highly competitive, with vast price fluctuations being the norm.This changing market environment necessitates sound risk management processes to be a pre-requisite for undertaking successful business in this deregulated energy market. As a pioneering company in the Nordic deregulation evolution, Brady Energy is the leading provider of energy software solutions to market participants requiring this unique know-how. The automated NASDAQ/OMX feed into the ETRM solution will be used by Energiameklarit as the pricing basis to process financial energy trades, on behalf of its energy utility customers in Finland.
Esko Kytömäki, Managing Director of Energiameklarit Oy, stated his reasons for selecting Brady ETRM:"We require a ETRM solution to offer our portfolio management services to our customers. Brady ETRM is the natural choice for us, having deployed another Brady solution for several years. Having enjoyed a great working relationship with Brady and having seen the latest version of the ETRM solution, it was an easy decision to opt for Brady going forwards. We are also confidant that the data migration process required between the platforms will also be a seamless and secure process."
Gavin Lavelle, CEO of Brady plc commented: "Energiameklarit's decision to select Brady ETRM endorses our product strategy in the evolution of the Brady ETRM. With a deep expertise in the area of risk strategies and modelling, as well as 20 years' experience in Europe's most deregulated markets, Brady Energy is uniquely qualified to help companies like this adjust to emerging demands and maximise their trading opportunities. You only need to look at our list of customer references in the region, to be assured of our commitment to and expertise in this unique market segment. I am delighted that we continue to retain customers as our product portfolio expands."