PP&L, Inc., and ZAI*NET Software, L.P., announced Wednesday (9/16) that ZAI*NET Software's trading and risk management system will be an integral component of PP&L, Inc.'s Energy Marketing Center business operations.
"As we market and trade wholesale energy throughout 26 states and Canada, ZAI*NET plays a critical role in managing the uncertainties of the marketplace," said Mike Steffes, vice president-Energy Marketing and Trading. "ZAI*NET's state-of-the-art software enhances our wholesale and retail power marketing efforts."
Steffes said his traders needed integrated software that fits the Energy Marketing Center's business objectives, while meshing with PP&L, Inc.'s information infrastructure.
"ZAI*NET provides this industry-leading power trading and risk management product," Steffes said.
"The ZAI*NET strategy has been to provide a best-of-breed trading and risk management package for companies like PP&L, Inc., that have exposure and price risk in volatile markets," said Shreedevi Thacker, vice president of ZAI*NET Software, L.P. "We have enhanced the ZAI*NET system as the energy markets have changed in the last few years, and our expanding client roster reflects our competence in the core energy business."
Founded in 1987, ZAI*NET Software, L.P., was the first company to develop an integrated trading and risk management software package targeted to the energy markets. With established offices in New York, London, Houston and Singapore, ZAI*NET provides support to companies trading power, natural gas, crude, refined products, natural gas liquids and coal through its integrated front, middle and back office system. ZAI*NET Software is largely owned by Caminus Energy Ventures, a comprehensive consulting service and software technology provider for the power and gas trading industry. The system tracks information relevant to trading, risk, credit, back office, scheduling and billing, thus providing an integrated solution for all the areas of a trading operation.
PP&L Resources, Inc. is a holding company based in Allentown, Pa. Its subsidiaries include PP&L, Inc., which provides electricity delivery service to 1.2 million homes and businesses in Pennsylvania through its PP&L AccessTM brand; generates electricity; sells retail electricity throughout Pennsylvania through its PP&L EnergyPlus Co.; and markets or trades wholesale energy to 26 states and Canada through its state-of-the-art Energy Marketing Center.