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Louisville, KY, May 23, 2019 (GLOBE NEWSWIRE) -- Today, Genscape Energy Management, the source of truth and insight for energy markets, released their Customer Pricing Model (CPM), a dynamic tool that helps customers make informed retail power pricing decisions.
The energy landscape is fiercely competitive, impacted by overlapping regional market rules, state-level policy, and utility and pipeline procedures. These factors influence cost structures across ISOs, states, utilities, and between power and gas. Aggregating market price data, while staying on top of policy decisions that can quickly impact pricing, is a cumbersome task for retail power and gas operators.
In late fall 2018, operators suffered direct financial impacts from one of these decisions when Federal Energy Regulatory Council (FERC) and the Pennsylvania, Jersey, Maryland (PJM) power market added two new charges for retailers designed to recoup losses from a prior credit default. The unforeseen price increase, slated through June 2019, with a possible extension through 2025, had an immediate impact, and over time, will have a net impact of up to $10 megawatts per hour. This increase is on top of all the other taxes and fees paid, which is typically more than half of an operators’ cost.
The new CPM allows for agility when situations like the FERC/PJM price increases trickle down. Customers can quickly adapt and run scenarios so that decisions are less reactive and more strategic. “Our model identified and incorporated these policy changes so our customers were not surprised with eroded margins,” said Alex Baldassano, Genscape Managing Director. “Instead, they were able to adjust prices proactively to achieve their financial goals.”
The CPM runs on a web-based platform so it is easily accessible when needed. The data can also be tailored to specific needs, whether to complement an existing model or serve as a stand-alone tool. For more information, visit the Genscape website.
Founded in 1999, Genscape is the leading global provider of real-time data and intelligence for commodity and energy markets.
Today, Genscape operates the world’s largest private network of in-the-field monitors and added satellite reconnaissance, artificial intelligence, and maritime freight tracking to its data acquisition capabilities. Genscape delivers its unique brand of unsurpassed market intelligence across the commodity and energy spectrum including power, oil, natural gas, NGL, agriculture, biofuels, and maritime freight.
Tara Goode Genscape 8594734433 firstname.lastname@example.org