TPTCL Automates its Power Trading Operation
Tata Power Trading Company Limited (TPTCL), part of the Tata Group of companies, has selected SunGard’s ZaiNet to help it streamline and automate its power trading operation.
TPTCL selected SunGard because of ZaiNet’s ability to be configured to the unique requirements of the Indian energy market. Integrated with the new India Energy Exchange (IEX), SunGard’s ZaiNet will support TPTCL’s trading on the exchange as well as its bilateral trading with counterparties in India.
ZaiNet will support TPTCL’s sustained growth by helping to automate and consolidate its confirmation process, which TPTCL has identified as a limiting factor to its growth due to its reliance on multiple, disparate confirmation systems. ZaiNet will also help TPTCL gain better controls through audit and reporting capabilities.
“Our business is experiencing a compounded growth rate of over 100% from 76 million units in 2005 to over 1700 million units in 2008. This growth of our trade volume necessitates that we fully automate our trading activities,” said Amulya Charan, managing director of TPTCL. “We chose to support our growth with SunGard’s ZaiNet because of its global application in power markets, and flexibility to adapt to the rapidly evolving energy market in India.”
India’s power industry today reflects the steady movement from deregulation to competitive markets introduced through the 2003 passage of the India Electricity Act. It continues to evolve and benefit from the introduction of Open Access in 2004, which set the stage for competitive trading, and the June 2008 opening of India’s first national-level power exchange.
SunGard to Expand India Operations
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