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Tuesday, 17 October 2017
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Xcel Energy successfully implements FARRMS RECTracker module to manage Renewable Energy Credits portfolio
Xcel Energy successfully implements FARRMS RECTracker module to manage Renewable Energy Credits portfolio

Denver, CO, USA, April 19, 2007 - Pioneer Solutions LLC is pleased to announce that Xcel Energy has successfully implemented FARRMS RECTracker software product to manage its Renewable Energy Credits portfolio.  Xcel Energy will use the RECTracker software for tracking, compliance, trading, settlement and accounting of Renewable
Energy and Renewable Energy Credits (REC) for Xcel Energy’s four operating companies: Northern States Power Company Minnesota (NSP-Minnesota), Northern States Power Company Wisconsin (NSP-Wisconsin), Southwestern Public Service Co (SPS) and Public Service Company of Colorado (PSCo).
 
RECTracker provides a comprehensive solution that automates end-to-end REC tracking and management processes from generation to assignment, retirement or expiration. RECTracker supports multiple states and GIS systems for various mandatory and voluntary compliance markets. The software provides an integrated platform for tracking, trading, risk management, settlement, accounting and compliance management. RECTracker is powered by Financial and Regulatory Risk Management System (FARRMS) that provide a leading edge integrated platform for mitigating
financial and regulatory risks.

Minneapolis-based Xcel Energy, a major U.S. electricity and natural gas company with regulated operations in eight  Western and Midwestern states, is a leader in environmental stewardship and has a diverse renewable energy portfolio that includes wind, hydro power, refuse-derived fuel and biomass. Xcel Energy meets all regulatory
renewable and emissions requirements, then exceeds them with voluntary emission reduction by participating in REC programs and markets.   Xcel Energy will use RECTracker to capture and manage RECs associated with generation from its facilities and derived from purchase power agreements and bilateral transactions in order to meet renewable portfolio standards in five states: Texas, New Mexico, Colorado, Minnesota and Wisconsin. RECTracker provides a single application in which all compliance, risk, accounting and trading activities are performed. 

“Environmental leadership is a fundamental value at Xcel Energy and it’s a commitment we make to reduce our environmental impact when possible,” said Michael Carlson, Xcel Energy chief information officer and vice president of Business Systems. “We are pleased that our requirements for managing the Renewable Energy Credits program were met with this software package.”

About Pioneer Solutions LLC
Pioneer Solutions LLC is a leading provider of several software products powered by
Financial and Regulatory Risk Management System (FARRMS) integrated platform: unique
technological straight through processing solutions for derivative accounting and compliance,
renewable energy credits portfolio management and compliance, and emissions portfolio
management and compliance.