Fortum Implements ZEMA Enterprise Data Management and Analysis System
ZE, the industry’s leading provider of data management, analysis and business process automation systems for the energy and commodities industry announced today that the Fortum Corporation has just completed the full implementation of the awarding winning ZEMA enterprise data management and analysis suite. The ZEMA Suite, developed by ZE, enables Fortum to import, centralize and validate their external market data requirements including electricity, weather and fuels as well as their internally developed market data in order to support and enhance its Trading, Analysis and Risk Management operations.
Key benefits of ZEMA implementation:
- Fully automated real time market data capture from sources such as Nordpool, EEX, ICE, Argus, ATS, CME, TFS, LME, Point Carbon, Moscow Power Exchange, Tricorona and Polish Power Exchange
- Automated generation of large volumes of complex derivative forward curves.
- Ability to allow Fortum traders and analysts to upload internal marks through ZEMA’s dynamic Excel Add-in.
- Validation of both market based data as well as Fortum’s custom curves.
- Full integration of market data and forward curves into both Fortum’s Aligne system by Sungard, and other back-end system using ZEMA’s workflow engine.
Commenting on the ZEMA implementation, Fortum’s Tero Tiainen, the team lead at Fortum, noted that “The ZEMA Suite proved to be right choice for our needs. It was able to replace our existing systems and bring in automation to whole process chain with more visibility to what is happening. The skilful ZE project team helped us achieve the goals with customer-oriented and flexible co-operation.”
Ian Gordon, ZE’s Director of European markets, felt that the strength of ZE’s consulting team in the energy markets and its ability to translate Fortum’s core needs into an automated process using ZEMA was a key advantage. “The results for Fortum are immediate and tangible,” commented Ian. “A single centralized system for managing information has shortened their end of day processes, reduced the room for input errors, and helped Fortum take greater control as related to the diverse data universe.”
Fortum‘s purpose is to create energy that improves life for present and future generations. The company provides sustainable solutions that fulfill the needs for low emissions, resource efficiency and energy security, and delivers excellent value to its shareholders. Fortum’s activities cover the generation, distribution and sale of electricity and heat as well as related expert services.
Fortum’s operations focus on the Nordic countries, Russia and Baltic Rim area. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2010, Fortum’s sales totalled EUR 6.3 billion and comparable operating profit was EUR 1.8 billion. Fortum employs approximately 10,500 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.
ZE is an experienced software and strategic consulting firm that combines energy industry expertise with advanced software development capability. The company possesses deep industry knowledge and comprehensive operational experience. ZE is the developer of the ZEMA™ data management and analysis solution which collects data related to coal, power, gas, crude, financial, weather, emissions, hydrology and others and is used as a business process automation and integration tool for small and large scale organizations alike. ZEMA is created by experts to meet the specific challenges faced by energy industry participants.