HOUSTON, Texas – National Grid Plc, the largest natural-gas distributor in the northeastern U.S., has selected software from Allegro Development Corp. to manage its U.S. commodity trading operations, Allegro said.
National Grid will use the software to manage its power, natural gas, liquefied natural gas, natural gas liquids and renewable trading operations, Dallas-based Allegro said on Tuesday in a statement.
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“Our business relies on information from many sources, and we need to easily be able to monitor risk, credit and trading across our multi-commodity enterprise,” Lorraine Lynch, vice president and treasurer of London-based National Grid, said in the statement.
National Grid’s U.S. unit delivers electricity to about 3.3 million customers in Massachusetts, New Hampshire, New York and Rhode Island. The company planned 3.7 billion pounds ($5.9 billion) in capital spending for the fiscal year ending in March, globally, the company said Nov. 18.
Michael Hinton, chief customer officer for Allegro, in a telephone interview declined to give a value of the new business from National Grid.
