Snowy Hydro Chooses Reval to Integrate and Streamline Treasury Operations for Growth

 

Sydney, 16 December 2014 – Reval, a leading global Software-as-a-Service (SaaS) provider of scalable and integrated Treasury and Risk Management (TRM) solutions, announced today that Snowy Hydro, one of Australia´s National Electricity Market’s largest generators by capacity, has selected Reval to automate and integrate cash management, payments processing and hedge accounting in support of its growth strategy.

“Snowy Hydro was looking for a single SaaS platform to streamline treasury processes and control cash and risk on a group level,” says Les Richardson, Treasurer at Snowy Hydro. “SaaS was a mandatory requirement for us, as it alleviates the dependency on internal IT resources and allows easy web access for corporate treasury and our regional operations teams.”

“Growth is clearly driving treasury transformation as Snowy Hydro seeks to leverage and optimise the liquidity and risk management opportunities across the expanded enterprise,” says Tony Singleton, Managing Director Asia Pacific at Reval. “We are delighted to welcome Snowy Hydro to our global client community. Their choice of Reval solidifies our position as the leading SaaS TRM provider in the Australian market.”

About Snowy Hydro

Snowy Hydro Limited is one of the National Electricity Markets largest generators by capacity. We provide energy to the National Electricity Market from our portfolio of generation plant which includes the Snowy Mountains Scheme’s renewable, hydro generating units with a combined generating capacity of 3950 megawatts (MW) and our gas fired generating portfolio of 620MW in Victoria. In addition, we own Red Energy, an electricity and gas retailer operating in Victoria, South Australia and New South Wales, and have recently acquired another electricity and gas retailer, Lumo Energy. The company provides peaking energy as well as a number of ancillary services to the National Electricity Market and grid, such as voltage and frequency control, contingency reserve and emergency start capability in the event of a widespread system failure. Snowy Hydro is a leading supplier of electricity price risk hedging contracts such as price caps and similar contracts to other National Electricity Market (NEM) participants (retailers and other generators) who are seeking protection to limit the price risk they face in the NEM market. Snowy Hydro’s ability to draw on large scale generation at short notice means that it is able to offer such contracts and generally hedge the risk it takes on those contracts by generating electricity as required. For more information, visit www.snowyhydro.com.au.

About Reval

Reval is a global SaaS provider for Treasury and Risk Management, helping enterprises better manage cash, liquidity and financial risk, and account for and report on complex financial instruments and hedging activities.

For more information, visit www.reval.com or email info@reval.com.

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