“INSIGHT provides unique and innovative solutions to reduce your client’s overall cost of managing risk.”
INSIGHT is constantly looking for energy consultants that have strong working relationships with fuel suppliers and that specialize in servicing US middle-market companies. Below are some of the services we offer.
Energy Risk Hedging
When the time is right for the utilities consultant to purchase fuel contracts in the future markets, he needs to know four things: How much the client wants to pay for the fuel (target price); where the fuel will be delivered (delivery point); how many units of fuel will be needed (quantity); and when the fuel will be used (month and year). In addition, because of the high volatility of energy prices, the utilities consultant may need all this information right away.
Our Hedging Master© allows the consultant to place orders directly to the fuel seller based on current or historical fuel consumption recorded directly from the utility bills, instead of relying on operations’ spreadsheets. Also, because our system is linked to the energy markets, the consultant can set up email alerts to let him know, based on current fuel prices, when it is the best time to hedge.
One of the largest cost drivers for every mid-size to large business is usually the cost of energy. INSIGHT’s energy management web-based application allows the user to track a company’s energy usage from utility bills or meter readings located at the facility. Then the company can see its monthly usage and cost information and if the budget variances are the result of fuel rate changes; decrease in energy usage efficiency; or changes in the activity driving the energy usage, like production. This allows the client to measure the energy consultant’s performance by separating the purchase of energy, usually done by a combined effort of the consultant and the corporate department, from the usage of energy, mostly one of operations’ responsibilities.
Utility Bill Auditing
How much money can you save your clients by verifying that the charges on their utility bills are correct? Who knows better than you what tariffs the regulated carriers should charge? Who can better recall the fuel contracts that were purchased months (or even years) earlier and bring them to an specific month, as shown in the bill? INSIGHT will collect your client’s utility bills, upload an image of the bills in our database, and manually enter the cost and usage information in the bill to our Utility Risk Manager© web-based application . Then, our back office personnel, will verify that the total charges add up. For electric, water and sewer bills, they will check the tariffs used by the utility company to be sure these are correct. For natural gas bills, they will verify that the gas rates and volumes match any previous hedging and supply contracts.