Implementation and maintenance of an Energy Trading and Risk Management System
HMN Gassalg / Gashandel (hereinafter “HMN Gashandel”) was established in 2003 as a result of the split of the two Danish distribution companies, HNG and Naturgas Midt Nord. The two distribution companies were later merged to one company, HMN Naturgas I/S. HMN Gashandel handles the sale of natural gas to customers in the liberalized market while the distribution company handles the distribution of natural gas (the monopoly part). HMN Naturgas is a municipal owned partnership of 57 municipalities in Denmark, which owns all the shares in HMN Gashandel.
HMN Gashandel has about 60 % of all the gas customers in Denmark and has a market share by volume of approx. 40 % in Denmark and about 10 % in Sweden. In total the company is selling approx. 1.2 BCM of gas per year to 240,000 customers. HMN Gashandel has a turnover of 619 million Euros and an equity of 97 million Euros.
At present we have 5 long terms gas purchase agreements (GSA's) and carry out approximately 4.500 short term trades a year covering deliveries in both The Netherlands, Germany, Denmark, Sweden and the North Sea using approximately 40 different counterparties using EFET agreements. We hedge our positions using up to 10 different financial counterparties and hold gas in two different gas storage facilities in Denmark.
Today HMN Gashandel's physical and financial trades are managed using several different spreadsheets. However, the number of trades has now become so extensive that the risk of error is increasing which accelerates the need for a more thorough day-to-day monitoring of the company's positions.
It is therefore the objective for HMN Gashandel to acquire a Risk Management System to link our long-term supply contracts and short-term trading transactions with our financial hedge transactions and end-user contracts so to ensure a continuously valid overview over the company's positions in the market.
HMN Gashandel wants the solution based on a Commercial Off The Shelf product with integration to internal and external systems providing information on prices, volumes etc.
The primary objectives for the solution are:
— Combine all physical and financial transactions,
— Ensure continuously updated position and risk statements,
— Increased data and flow validation & sanity checks which generates system alerts,
— Logging of all changes to data,
— Send and receive nominations and confirmations,
— Automatically generated confirmations,
— Perform searches/queries,
— Generate reports,
— Ensure a back office link to our Finance Department.
The secondary objectives for the solution are:
— Include analysis tools and statistical tool,
— Portfolio management (manage portfolios separately),
— Transfer positions from Sales to Trading (and have risk books),
— Manage storage risk exposure,
— Manage our partnership sourcing agreements,
— Manage our gas flow around the European gas markets (gas dispatching),
— Manage capacity risk,
— Achieve automation of manual processes (where possible).
Please note that the above lists are non-exhaustive.
The supplier is expected to provide the solution as a turnkey project and provide support and maintenance after go-live. HMN Gashandel will be responsible for the operation of the solution.
Deadline
Fristen for modtagelse af bud var på 2013-12-20.
Indkøbet blev offentliggjort på 2013-12-03.
Leverandører
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Indkøbshistorik
| Dato |
Dokument |
| 2013-12-03
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Udbudsbekendtgørelse
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| 2013-12-13
|
Supplerende oplysninger
|
| 2014-08-04
|
Bekendtgørelse om indgåede kontrakter
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