Zürich, Münchenstein, 11. May 2022 – The Swiss utility Primeo Energie chooses Fidectus' Global Energy Network (GEN) platform for automated settlement of complex energy trades in over-the-counter markets.
Fidectus' enhanced Settlement Cloud service for over-the-counter energy trades enables Primeo Energie to seamlessly process trade data from their Energy Trading and Risk Management (ETRM) system to Fidectus' GEN. GEN automatically creates electronic invoices, shadow invoices and nettings. The documents are sent to all Primeo Energie's business partners and compared with their expectations. In case they match, a posting is made in the SAP accounting system. If there are discrepancies, Primeo Energie and its business partners have a powerful collaboration tool at their disposal for efficient dispute management. Fidectus' settlement cloud service supports the new electronic Settlement Matching (eSM) standard of the European Federation of Energy Traders (EFET).
"Fidectus' solution facilitates our trade processing enormously and fits into our digitization efforts. The solution saves us a lot of time and money and works with all our business partners. It doesn't matter whether they have already switched to electronic billing or are still using paper, email and PDF." says Vinzent Schild, Risk Manager at Primeo Energie AG.
Dr. Jens Bartenschlager, CEO and founder of Fidectus, adds: "We are proud to offer a solution also for the needs of small and medium-sized energy traders. Our settlement service fits seamlessly into the existing IT architecture. With little effort and low costs, digital and automated settlement is now possible for all participants in the OTC market."
About Primeo Energie
"Smart. inspiring. future-oriented." Primeo Energie makes homes smarter, mobility more sustainable and motivates people to use energy efficiently. The company develops energy solutions for private and business customers, energy utilities, cities and municipalities. 617 employees reliably supply energy to over 170,000 customers in Switzerland and France. Business areas are energy, grid, heat and renewable energies. Primeo Energie is active along the entire value chain, from production and trading to distribution and sales. By imparting knowledge to children and young people, Primeo Energie is helping to ensure that future generations also live responsibly. Founded in 1897 as the EBM cooperative, Primeo Energie is headquartered in Münchenstein (Switzerland) and has a subsidiary in Paris, Primeo Energie France.
For more information about Primeo Energie, please visit www.primeo-energie.ch and www.primeo-energie.fr.
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