Sep. 30, 2009 (PR Newswire) --

LONDON and TEANECK, N.J., Sept. 30 /PRNewswire-FirstCall/ -- Cognizant (Nasdaq: CTSH), a leading provider of consulting, technology, and business process outsourcing services, today announced that it has been selected by ELEXON, the Balancing and Settlement Code (BSC) Company, to help it deliver the settlement of electricity trading for Great Britain, while improving its current services, rationalizing costs, and strengthening its capability to meet the future BSC requirements of the industry.

As part of the five-year engagement, Cognizant will provide a broad spectrum of strategic development, application management and support services to enable ELEXON to present the industry with clear options on the evolution of Balancing and Settlement Code systems, and add value to the services it offers in managing the settlement of electricity costs between suppliers, generators and other parties involved in the industry. With the wider energy debate focusing on emerging technologies and issues of security of supply and sustainability, the relationship incorporates a new strategic development service that focuses on the longer term future.

Hailing the relationship as the beginning of a new chapter of enhanced collaborative working that will benefit both ELEXON and BSC parties, Stuart Senior, ELEXON's Chief Executive, said: "This is a time of large-scale change for the industry. We feel that by selecting Cognizant as ELEXON's partner in delivering these services, we are poised to meet the challenges of shaping and delivering the Balancing and Settlement Code well into the next decade. We selected Cognizant because of its global delivery model, high service levels and a strong commitment to innovation, forward thinking, and collaborative working with ELEXON and the industry."

"We are pleased to have been selected by ELEXON," said Sanjiv Gossain, VP and Country Head, UK and Ireland, Cognizant. "Leveraging our deep consulting, domain and technology expertise, we are committed to act as a transformational partner driving powerful thought leadership and business-aligned IT solutions to help ELEXON define industry trends, and generate value through process optimization and cost containment to address the long-term challenges spawned by a rapidly changing energy landscape."

About ELEXON

ELEXON is the Balancing and Settlement Code Company (BSCCo) for Great Britain. Our role is defined and created by the Balancing and Settlement Code (BSC).