Iren Mercato chooses Leonardo as its technology partner for energy trading risk management

Iren’s digitalisation project will incorporate Bee Smart™, Leonardo’s first entirely cloud-based platform for energy trading & risk management

Rome   14 January 2021 11:24

Iren Mercato has chosen Leonardo to deliver a new cloud-based Energy Trading & Risk Management (ETRM) platform which will be used to manage the Iren Group’s energy procurement process. The platform will be flexible and provide substantial analytics capabilities while also meeting the growing need for strong digital security. 
The new platform will be a tailored deployment of Leonardo’s new Bee Smart™ software suite. Bee Smart™ will facilitate the management and optimisation of Iren’s energy portfolio in a scalable and useable manner across a range of modern devices. 
"The volatility of commodity prices and competitive pressures on sales have led to energy markets evolving into highly dynamic exchanges underpinned by sophisticated physical and financial products" said Gianluca Bufo, Chief Executive Officer of Iren Mercato. “We started a project to equip ourselves with highly digitized services in order to manage our supply, de-risking and portfolio hedging activities in more innovative and efficient ways. Leonardo's solution fully meets our requirements by allowing for the dynamic update of our sales portfolio as well as delivering the interoperability and flexibility required by the market, all while fully observing market compliance rules and company policies".
As well as meeting Iren’s operational requirements, Bee Smart™ features a high level of security, complying with all recent European regulations relating to critical infrastructure and ensuring Iren’s algorithmic expertise is safeguarded. This is underpinned by Leonardo’s ‘secure by design’ approach which embeds protection from malfunction and cyber attacks from the early stages of application design. To ensure performance scalability is in line with Iren’s workloads and timing, Bee Smart™ will be provided under a Software as a Service (SaaS) model via Microsoft’s Cloud Azure platform. 
Bee Smart™ allows clients to monitor and interpret corporate data in real time using innovative technologies such as advanced analytics and machine learning. Employing Big Data techniques, Bee Smart™ saves every calculation made by the system into a virtually-infinite historical archive in order to enable subsequent review. 
The selection of our Bee Smart™ suite by a major customer like Iren Mercato reflects Leonardo’s growing prominence in the energy management sector. Our journey began twenty years ago with the creation of the first Italian energy exchange and continued with our ETRM solution being adopted by the main operators in the market” said Tommaso Profeta, Managing Director of Leonardo's Cyber Security Division. “With solid experience in the energy sector, in which Leonardo has its own dedicated centre of excellence, we are recognised today as a partner of choice for efficient and highly-reliable solutions and services. This is why almost all electricity-producers in Italy use Leonardo products, including the companies which manage the market itself.”
Bee Smart™ is the 4.0 evolution of Leonardo's original ETRM suite. All leading Italian energy companies have operated Leonardo’s ETRM suite since 2004, when energy trading began in Italy.


Iren Luce Gas e Servizi    
Iren Luce Gas e Servizi is the Iren Group company involved in the procurement, brokerage and sale of electricity, gas and heat products and services. These are in constant evolution, changing to adapt to the needs of those who use energy and the surrounding environment. The company transforms itself alongside its customers to meet their needs, ensuring that it always proposes the most suitable solution for the dynamic world in which we live. 
Iren Luce Gas e Servizi offers a portfolio of packages tailored to the customer, all of which are designed to fit their daily lives and simultaneously make the environment greener by almost entirely incorporating 100% green electricity from the Group’s hydroelectric plants. The company’s experience, know-how and ability to reinvent itself in line with customers’ evolving needs has made it one of Italy’s leading energy operators. Today Iren Luce Gas e Servizi has over 1.8 million clients and has sold 2.6 billion cubic metres of gas, 87 million cubic metres of district heating volume and 15,000 GWh of electricity. As energy volumes continue to increase, the resources that the company is devoting to caring for its customers is also growing, with 3 inbound call centres, a network of dedicated accounts, 40 teleseller agencies and customer services.
Media contact: Roberto Bergandi - M: + 39 335.6327398 - roberto.bergandi@gruppoiren.it
Barabino & Partners: Giovanni Vantaggi - M: +39 328 8317379 - g.vantaggi@barabino.it

Leonardo
Leonardo, a global high-technology company, is among the top ten world players in Aerospace, Defence and Security and Italy’s main industrial company. Organized into five business divisions, Leonardo has a significant industrial presence in Italy, the United Kingdom, Poland and the USA, where it also operates through subsidiaries such as Leonardo DRS (defense electronics), and joint ventures and partnerships: ATR, MBDA, Telespazio, Thales Alenia Space and Avio. Leonardo competes in the most important international markets by leveraging its areas of technological and product leadership (Helicopters, Aircraft, Aerostructures, Electronics, Cyber Security and Space). Listed on the Milan Stock Exchange (LDO), in 2019 Leonardo recorded consolidated revenues of €13.8 billion and invested €1.5 billion in Research and Development. The Group has been part of the Dow Jones Sustainability Index (DJSI) since 2010 and is named as sustainability global leader in the Aerospace & Defence sector for the second year in a row of DJSI in 2020.
Media contact: Flavia Negretti - M: +39 3346378422 - flavia.negretti@leonardocompany.com

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