Managing energy risk online

12 January 2009

A new service has been launched by npower to give businesses detailed and timely market data to support more informed energy buying decisions.

Risk Navigator from npower has the potential to save businesses significant sums on energy procurement by giving them greater insight on when to purchase energy. The new web-based service gives secure and easy access to market news as it breaks, monitors wholesale price movement at any time of the day, and provides up-to-date detail on customers’ own hedging positions. It is available at no additional cost to new and existing npower customers purchasing in flexible arrangements. npower is believed to be the first energy provider to offer this service for energy buyers and consultants, building on its range of tools and products to help businesses better manage their energy use.

Risk Navigator has been developed in three levels – Analyst, Manager and Professional – each offering clients increasing levels of sophistication and intelligence about market conditions and commodity prices, and detail on their energy buying history. Businesses can select the level that best meets the complexities of their energy buying arrangements.

“Energy is one of the most volatile costs for businesses, so there is a potentially huge amount of value at stake through the timing of purchasing decisions. With Risk Navigator we’re helping businesses to better manage energy risk by giving quick and easy access to accurate, up-to-the-minute data, eliminating the guess work they sometimes face when buying energy.

“This initiative complements an ongoing range of support services provided to clients from the Optimisation Desk on our trading floor. It will enable them to make more informed buying decisions and better manage their budgets,” said npower’s Corporate Markets Director, Douglas McLeish.

Npower serves over 230,000 small to medium sized enterprise sites and around 15,000 industrial and commercial customers, with over 100,000 sites. Npower specialises in risk management solutions, including market-leading flexible energy purchasing, energy efficiency, and broader energy management functions, tailored to every size of business. Npowers risk management products and services now sit within new brand r3. r3 ‘risk, review, respond has been developed to help businesses understand their own attitude to risk using our unique Policy Shaper service. npower then help customers to review and select the right tools and services in order to respond effectively in line with their own risk strategy

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