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The new system will optimize energy data access and usage for Polish consumers, drive value chain transformation, introduce new value-add services, and advance Poland's ESG goals
WARSAW, Poland, Feb. 6, 2023 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB) has been selected to design, build, implement and support a next-generation Central Energy Market Information System (CSIRE) for Polskie Sieci Elektroenergetyczne (PSE), Poland's electricity transmission system operator. The new centralized energy IT system will store and manage data from all of Poland's energy consumption locations to simplify and enhance data exchange across the country's retail electricity market. This will drive benefits for PSE's nationwide operations as well as Poland's households, enterprises and retail utility sector as a whole. The contract is valued at CAD$97 million.
By centralizing and automating Poland's energy metering data management, the new system will optimize energy data access, as well as drive energy value chain transformation and new value-added services. In addition, the new system will unify electricity retail market processes and standards across the country. This will reduce the number of standards and systems maintained locally by energy distributors and suppliers, which, in turn, will further streamline and accelerate processes across Poland's retail energy market.
"CSIRE will improve metering information access, enable consumers' prudent energy use, and facilitate market procedures like change of supplier. It also will drive competitiveness among market participants, support the launch of new innovative services, and more," said Tomasz Sikorski, PSE President of the Board.
To support PSE, CGI will leverage its proven Central Market Solutions (CMS) intellectual property, which manages the exchange of data among energy market participants and improves compliance with ESG reporting regulations. By synchronizing data, processes and systems, CMS addresses key requirements driven by new energy legislation and evolving energy sector demands. This also will help PSE to address its own business needs in terms of data processing, protection and security.
"The energy sector has become vitally important to not only meet the needs of consumers, but also to advance the transition to more sustainable energy sources, which addresses geopolitical challenges and drives economic growth," said Senior Vice-President Bartłomiej Nieścierowicz, who leads CGI's operations in Poland, Lithuania, Latvia and Estonia. "We look forward to partnering with Poland to help revolutionize the energy sector for the future through a new strategic vision and innovative technologies. CGI has successfully implemented solutions similar to CSIRE in 10 countries and 14 regulated markets, including electricity, gas and water."
CGI has worked in the energy sector for several decades, delivering end-to-end services and innovative intellectual property solutions to help energy companies become customer-centric digital organizations. Through its energy data, systems, security and ESG expertise, CGI helps clients navigate change and evolve their energy businesses to better serve customers, drive operational excellence, and gain competitive advantage. To learn more about CGI's energy experience, visit cgi.com/energy-utilities.
About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 90,250 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2022 reported revenue is $12.87 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.
Forward-looking information and statements
This press release contains "forward-looking information" within the meaning of Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable United States safe harbours. All such forward-looking information and statements are made and disclosed in reliance upon the safe harbour provisions of applicable Canadian and United States securities laws. Forward-looking information and statements include all information and statements regarding CGI's intentions, plans, expectations, beliefs, objectives, future performance, and strategy, as well as any other information or statements that relate to future events or circumstances and which do not directly and exclusively relate to historical facts. Forward-looking information and statements often but not always use words such as "believe", "estimate", "expect", "intend", "anticipate", "foresee", "plan", "predict", "project", "aim", "seek", "strive", "potential", "continue", "target", "may", "might", "could", "should", and similar expressions and variations thereof. These information and statements are based on our perception of historic trends, current conditions and expected future developments, as well as other assumptions, both general and specific, that we believe are appropriate in the circumstances. Such information and statements are, however, by their very nature, subject to inherent risks and uncertainties, of which many are beyond the control of CGI, and which give rise to the possibility that actual results could differ materially from our expectations expressed in, or implied by, such forward-looking information or forward-looking statements. These risks and uncertainties include but are not restricted to: risks related to the market such as the level of business activity of our clients, which is affected by economic and political conditions, additional external risks (such as pandemics, armed conflict, climate-related issues and inflation) and our ability to negotiate new contracts; risks related to our industry such as competition and our ability to develop and expand our services, to penetrate new markets, and to protect our intellectual property rights; risks related to our business such as risks associated with our growth strategy, including the integration of new operations, financial and operational risks inherent in worldwide operations, foreign exchange risks, income tax laws and other tax programs, our ability to attract and retain qualified employees, to negotiate favourable contractual terms, to deliver our services and to collect receivables, to disclose, manage and implement environmental, social and governance (ESG) initiatives and standards, as well as the reputational and financial risks attendant to cybersecurity breaches and other incidents, and financial risks such as liquidity needs and requirements, maintenance of financial ratios, interest rate fluctuations and the discontinuation of major interest rate benchmarks and changes in creditworthiness and credit ratings; as well as other risks identified or incorporated by reference in this press release, in CGI's annual MD&A and in other documents that we make public, including our filings with the Canadian Securities Administrators (on SEDAR at www.sedar.com) and the U.S. Securities and Exchange Commission (on EDGAR at www.sec.gov). For a discussion of risks in response to the coronavirus (COVID-19) pandemic, see section titled Pandemic risks of our annual MD&A. Unless otherwise stated, the forward-looking information and statements contained in this press release are made as of the date hereof and CGI disclaims any intention or obligation to publicly update or revise any forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. While we believe that our assumptions on which these forward-looking information and forward-looking statements are based were reasonable as at the date of this press release, readers are cautioned not to place undue reliance on these forward-looking information or statements. Furthermore, readers are reminded that forward-looking information and statements are presented for the sole purpose of assisting investors and others in understanding our objectives, strategic priorities and business outlook as well as our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Further information on the risks that could cause our actual results to differ significantly from our current expectations may be found in the section titled Risk Environment of CGI's annual MD&A, which is incorporated by reference in this cautionary statement. We also caution readers that the above-mentioned risks and the risks disclosed in CGI's annual MD&A and other documents and filings are not the only ones that could affect us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial could also have a material adverse effect on our financial position, financial performance, cash flows, business or reputation.
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SOURCE CGI Inc.
