Press Release
Fendahl is pleased to announce that in January 2024 MIECO LLC successfully completed the deployment of the Fusion ETRM platform for Natural Gas and Refined Petroleum Products.
Phase 1 of the project – Fusion ETRM for Gas, was completed in early 2023. Fusion now supports MIECO’s end to end Natural Gas business, which includes both physical trading and derivative instruments (NYMEX plus Swing, Index, and Basis Swaps), as well as gas scheduling through Physical, Storage, PAL, Transport and Pool contracts.
The highlight of the gas implementation is the easy-to-use Gas Scheduling Workbench. The advanced workbench allows MIECO users to schedule multiple pipelines together and provides complete real-time visibility of location and pipeline balances, storage inventories, interconnect transactions, and fuel calculations.
Fendahl’s industry leading reporting solution delivers Regulatory Reports, Gas Recon, and Storage Inventory Balances; with their daily and WACOG prices.
Phase 2 of the project – Fusion ETRM for Petroleum Products successfully went live in January 2024. Fusion now manages MIECO’s complete refined product business including highly complex pricing models, such as the calculations of biofuel components, RVOs, RINS, triggers and EFPs. The solution allows users to perform the physical operations of refined products through several different MOTs such as barges, vessels, pipelines, and trucks. Fusion also provides complex tax calculation and reporting for refined petroleum products transactions.
The project has integrated Fusion ETRM with several third-party systems, examples include Toptech Systems for daily truck loads from terminals, Microsoft Navision for back-office accounting requirements, and several market data providers (Platts, OPIS, ICE, etc.).
During the project Fendahl’s experienced professional services team worked closely with MIECO staff to ensure that the project was delivered on time and on budget. The Fusion ETRM solution now delivers industry leading ETRM capabilities to 70+ MIECO end users in 6 different locations across the US and Canada.
“Fusion is a significant improvement over our previous legacy ETRM, and Fendahl has proven to be a reliable business partner. The Fusion project has automated and integrated many parts of our business and given MIECO users the tools and business information they need to make better decisions.” – Peter D’Anna, Vice President & Chief Financial Officer, MIECO LLC
About MIECO
MIECO LLC is a wholly owned subsidiary of Marubeni Corporation. Headquartered in Long Beach, California, the company has offices located in several regions of United States. MIECO actively trades refined petroleum products and natural gas, In the North America and the Pacific Rim regions.
About Fendahl
Fendahl Technology is a rapidly growing global CTRM software and consulting company with a dedicated team of over 375+ staff with offices in the Americas, Asia, and EMEA, serving a rapidly growing global client base across multiple commodity segments.
