HOUSTON, Oct. 19, 2004 (PRIMEZONE) -- KWI, the leading provider of risk management and trading software for the global energy industry, today announced that WPS Energy Services, Inc., a subsidiary of WPS Resources Corporation (NYSE:WPS), has successfully upgraded its energy trading and risk management system to KWI's kW3000 v7.0. WPS Energy Services has gone live on version 7.0 and KWI's North American Scheduling system to enhance business processes, enable real-time scheduling and enhance its competitiveness.
The automated system provides WPS Energy Services with greater control of the auditing process by minimizing the risk of human error. The system enables transactions to be processed more quickly and provides users with the ability to access the most up-to-date information when required. The latest software upgrade advances WPS Energy Services' daily Mark-to-Market (MtM) process by reducing data input time and costs, as well as enhancing data accuracy. More precise information is particularly important to WPS Energy Services due to increasing levels of legislation, such as Sarbanes-Oxley. The North American Scheduling system provides the company with real-time functionality achieved through streamlining the business processes surrounding the scheduling function.
Kelly Liebmann, project manager at WPS Energy Services, said, "The decision to upgrade our software was a strategic one; we realized that version 7.0 would make good business sense and help us to maintain our competitive edge in the North American market through the intelligent management of information. The software has enabled us to achieve real-time scheduling and make important advancements in risk management."
David Bucknall, chief executive officer, KWI, comments, "KWI is committed to helping its clients attain their strategic business goals through the effective deployment of trading and risk management software. We are continually enhancing our products to ensure our software capabilities advance in line with the requirements of a competitive, market where regulatory pressures have grown significantly. We have enjoyed a long-term working relationship with WPS Energy Services and are pleased that they have decided to further this relationship."
About KWI
KWI is a leading provider of trading and risk management software for the global energy industry. Developed specifically for global energy businesses, KWI's flagship product, K2, is a comprehensive suite of componentized, integrated applications for multi-commodity trading and risk management.
KWI is an international software company with customers in North America, Europe and Asia, including BP, ATEL, CEZ, ENEL, Energi E2, MVM, WPS Energy Services, Ontario Power Generation (OPG), PacifiCorp and BNFL Magnox Generation.
More information available at www.kwi.com
About WPS Energy Services
WPS Energy Services, Inc., is a diversified natural gas and electric marketer, which serves customers in the northeast quadrant of the United States and adjacent portions of Canada. It currently serves over 250,000 retail natural gas and electric customers. WPS Energy Services has total annual retail and wholesale sales of 493 billion cubic feet of natural gas and 9,200 Gigawatt-hours of electricity. Its corporate mission is to "Provide Customers with the Best Value in Energy and Related Services."
For more information visit: www.wpsenergy.com.