InstaNext, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that NB Power will add coal and uranium to their InstaNext license.
As the primary electrical utility in the Canadian province of New Brunswick, NB Power provides approximately 75% of the power needed daily by residential and industrial consumers within the region. The power company operates and maintains one of North America’s most diverse generating systems consisting of 12 hydro, coal, oil and diesel-powered generating stations that can pump out upwards of 2,853 megawatts of power. In addition to supplying power throughout New Brunswick, these powerful stations also export energy to New England, Quebec, Prince Edward Island and Nova Scotia.
Since implementing InstaNext in 2015, NB Power has relied on the software’s robust reporting and analytics tools for their natural gas, heavy fuel oil (HFO), power, and FX hedge positions. The InstaNext platform is able to seamlessly integrate with the power company’s hedge accounting system pulling trade data and prices in order to generate custom reports and data visualizations of their volumes and P&L. InstaNext’s simplistic visual reporting suite has enabled NB Power to present their management with a multitude of specialized reports and graphs showing positions and price averages. Prior to licensing InstaNext, the power company was struggling to compile the necessary reports using excel spreadsheets and manual processes. “With the addition of coal and uranium, NB Power will be able to capture all of their hedge positions in one integrated system,” stated Richard Kulaszewski. “This will give them the ability to measure limits vs. additional exposures for a holistic view of the risks across all of their commodity types.”
InstaNext is comprised of a team of software and technology experts in the fields of commodity trading, hedging, and risk management. With an extensive portfolio of prior successes in the CTRM industry, InstaNext provides intuitive solutions to help companies meet the challenges of the complex commodities world. The InstaNext platform simplifies every aspect of commodity trading and risk management. The multi-market platform allows companies to analyze their positions in real-time via its powerful analysis capabilities. With InstaNext, historical and scenario-based data can be used to compare current positions against changes in the market, allowing for more effective management of portfolio risk and ensuring profit margins are secure. Using the latest cloud-hosted technology, InstaNext can be implemented quickly and with low risk.
For more information please visit our website at www.instanext.com.