KWI joins national energy committee

Software provider KWI has become the latest company to join the executive committee of the National Energy Marketers Association (Nem), a trade body representing energy, telecoms and financial services marketers and consumers.

Gordon Allott, vice-president of business development at KWI, said the company hopes to use its experience of risk management to help shape its energy deregulation policy. KWI joins fellow software companies Financial Engineering Associates (FEA) and Caminus on the executive committee, which also includes energy companies, consultants and auditors.

Early this year, Nem set up a national working group to establish a code of conduct for the troubled energy sector. The risk valuation, management and financial accountability task force presented its preliminary findings at Nem’s annual meeting in Washington, DC, on June 21.

Allott said the task force has identified the key issues it will address and is now moving to a more detailed examination of those issues. But he added that it is unclear whether the final code of conduct will become mandatory within the industry, or whether it will form the basis of an internal regulatory code.

The six key issues the task force is examining are: disclosure, market risk, credit and counterparty risk, capital adequacy, regulatory compliance and internal governance. Allott said it is too early in the process to say when a final code of conduct will be produced.