Utility Risk Manager
Most energy management software is used to track and allocate energy. It is always important to know to what products and services the cost of energy should be allocated to, but those activities alone may not save the company any money. What about mitigating company’s exposure to energy price hikes? What about auditing utility bills? Do we know how efficient the company is using and transforming energy?
The Utility Risk Manager© is a simple and easy to use web-based software to hedge your energy risk from anywhere. Designed exclusively for companies who purchase energy to use it in their process and hedge the market not to speculate but to reduce their exposure to energy price changes, and that are more interested in physical than financial hedging. When the time to hedge is right, the Utility Risk Manager© will send you an email, calculate your savings, and prepare an order for your marketer(s) with the volumes and market prices of the commodity you need to purchase. After your marketer receives and confirms the order, the Utility Risk Manager© automatically updates the database and you are ready for a new order. The whole process can take less than five minutes!
The Utility Risk Manager© allows the company to manage their cost and risk of energy. The same way the Contractual RM© provides two separate web environments for the people managing cost (operations managers), and the people managing risk; this application allows operations people to track their energy cost and usage while the risk guys look at their exposures in the energy markets. Using the Hedging Master© ,the energy buyer can place email orders directly to the energy supplier (or broker), run “what if” scenarios, and see any savings before and after hedging.
The Utility Risk Manager© includes a screen that separates variances from changes in energy purchase (price variance), which is the responsibility of the risk guys; and energy usage (production and efficiency variances) which is the responsibility of the cost guys. In addition, the Utility Risk Manager© includes tools to track energy usage per site, cost center, activity, area and load; to enter meter readings or create virtual meters; send automatic emails to request utility bills; setup email alerts for changes in energy prices or variances; audit utility natural gas, electricity, water and other utility bills; and to create energy budgets importing historical energy usage information from past years.
The Utility Risk Manager© provides the following:
- Energy Usage and Cost Management
- Physical Hedging
- Real-Time Energy Budgeting
- Utility Bill Auditing, Tracking and Processing
- Physical and Virtual Metering
- Energy Cost Allocation