Peabody Energy Selects Triple Point for FX, Interest Rate and Commodity Hedging
Peabody Energy has selected Triple Point’s Commodity XL for hedge accounting and fair value disclosure. Peabody will use Commodity XL to assist in meeting the regulatory requirements related to FAS 133, FAS 157 and FAS 161 for its hedging activities across foreign exchange (FX), interest rates (IR) and energy commodities.
Peabody Energy is the world’s largest private-sector coal company, booking 2008 sales of 256 million tons of coal and US$6.6bn in revenues. The energy company’s coal products fuel 10% of all US electricity generation and 2% of worldwide generation.
The energy company’s selection of Commodity XL follows Triple Point’s recent announcement of an integrated software solution for FX, IR and commodity hedge accounting and fair value disclosure.